Amalgamated Bank Sells 12,804 Shares of General Electric (NYSE:GE)

Amalgamated Bank reduced its stake in General Electric (NYSE:GE) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 265,388 shares of the conglomerate’s stock after selling 12,804 shares during the period. Amalgamated Bank’s holdings in General Electric were worth $33,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its stake in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock worth $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Morgan Stanley raised its position in General Electric by 5.1% in the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock worth $990,032,000 after purchasing an additional 434,736 shares during the period. WCM Investment Management LLC bought a new stake in General Electric in the fourth quarter worth about $520,488,000. Meritage Group LP boosted its position in shares of General Electric by 3.5% during the third quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock valued at $364,157,000 after buying an additional 110,000 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in General Electric by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock worth $339,848,000 after buying an additional 32,643 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 1.8 %

Shares of NYSE GE traded up $2.94 during midday trading on Thursday, hitting $162.64. The company’s stock had a trading volume of 4,948,439 shares, compared to its average volume of 7,987,836. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market capitalization of $178.03 billion, a price-to-earnings ratio of 52.50, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. The business’s fifty day simple moving average is $161.50 and its two-hundred day simple moving average is $137.33. General Electric has a 1 year low of $77.93 and a 1 year high of $166.26.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. On average, equities analysts predict that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Argus boosted their price target on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Citigroup boosted their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

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.