First Hawaiian Bank Has $3.97 Million Position in General Electric (NYSE:GE)

First Hawaiian Bank trimmed its position in shares of General Electric (NYSE:GE) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,611 shares of the conglomerate’s stock after selling 919 shares during the quarter. First Hawaiian Bank’s holdings in General Electric were worth $3,969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Halpern Financial Inc. grew its position in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new position in General Electric in the 4th quarter worth $27,000. CGC Financial Services LLC raised its stake in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC lifted its holdings in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.1 %

Shares of NYSE GE opened at $164.97 on Thursday. General Electric has a 52 week low of $82.11 and a 52 week high of $170.80. 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 stock’s fifty day moving average is $161.35 and its 200 day moving average is $149.38. The stock has a market capitalization of $180.58 billion, a P/E ratio of 54.09, a PEG ratio of 1.76 and a beta of 1.23.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS. Sell-side analysts forecast that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is presently 36.72%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. The Goldman Sachs Group raised their price objective on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Barclays dropped their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

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.