Penobscot Investment Management Company Inc. Sells 319 Shares of General Electric (NYSE:GE)

Penobscot Investment Management Company Inc. cut its holdings in General Electric (NYSE:GE) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,372 shares of the conglomerate’s stock after selling 319 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in General Electric were worth $1,230,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GE. UNIVEST FINANCIAL Corp raised its stake in shares of General Electric by 13.0% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 2,736 shares of the conglomerate’s stock valued at $456,000 after purchasing an additional 315 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in General Electric in the 4th quarter valued at approximately $888,000. Florida Financial Advisors LLC lifted its stake in General Electric by 30.0% in the 4th quarter. Florida Financial Advisors LLC now owns 1,427 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 329 shares in the last quarter. Aire Advisors LLC boosted its position in General Electric by 7.0% during the 4th quarter. Aire Advisors LLC now owns 6,544 shares of the conglomerate’s stock worth $1,091,000 after acquiring an additional 428 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of General Electric by 59.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 39,574 shares of the conglomerate’s stock worth $6,601,000 after acquiring an additional 14,777 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

General Electric Stock Down 2.3 %

Shares of GE opened at $207.33 on Thursday. The firm’s 50-day simple moving average is $200.66 and its 200 day simple moving average is $185.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market cap of $222.53 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52 week low of $133.99 and a 52 week high of $214.21.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 24.04%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GE. Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group increased their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research initiated coverage on General Electric in a research note on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.