CENTRAL TRUST Co Sells 632 Shares of General Electric (NYSE:GE)

CENTRAL TRUST Co reduced its stake in shares of General Electric (NYSE:GE) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,178 shares of the conglomerate’s stock after selling 632 shares during the period. CENTRAL TRUST Co’s holdings in General Electric were worth $4,244,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. V Square Quantitative Management LLC raised its position in General Electric by 243.8% during the 1st quarter. V Square Quantitative Management LLC now owns 6,140 shares of the conglomerate’s stock worth $1,078,000 after purchasing an additional 4,354 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in General Electric by 154.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 767 shares of the conglomerate’s stock worth $135,000 after acquiring an additional 466 shares during the period. Townsend & Associates Inc acquired a new stake in General Electric during the 1st quarter worth about $254,000. Arlington Capital Management Inc. acquired a new stake in General Electric during the 1st quarter worth about $233,000. Finally, Round Rock Advisors LLC grew its holdings in General Electric by 51.5% during the 1st quarter. Round Rock Advisors LLC now owns 2,841 shares of the conglomerate’s stock worth $499,000 after acquiring an additional 966 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of General Electric stock traded down $0.20 during mid-day trading on Wednesday, hitting $160.80. 4,430,945 shares of the stock were exchanged, compared to its average volume of 7,621,334. General Electric has a 12 month low of $79.76 and a 12 month high of $170.80. The company has a 50-day simple moving average of $162.43 and a 200 day simple moving average of $143.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $176.01 billion, a P/E ratio of 52.72, a P/E/G ratio of 2.81 and a beta of 1.25.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GE. StockNews.com began coverage on General Electric in a report on Monday, April 29th. They set a “hold” rating for the company. Argus raised their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their target price on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Bank of America raised their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.21.

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.