Fulton Bank N.A. Grows Stock Holdings in General Electric (NYSE:GE)

Fulton Bank N.A. lifted its position in shares of General Electric (NYSE:GE) by 217.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,888 shares of the conglomerate’s stock after purchasing an additional 4,033 shares during the period. Fulton Bank N.A.’s holdings in General Electric were worth $982,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Spartan Planning & Wealth Management purchased a new stake in General Electric in the 4th quarter worth approximately $209,000. Diversified Trust Co raised its holdings in shares of General Electric by 32.1% during the fourth quarter. Diversified Trust Co now owns 27,689 shares of the conglomerate’s stock valued at $4,618,000 after acquiring an additional 6,729 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in General Electric by 1.0% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 14,502 shares of the conglomerate’s stock worth $2,419,000 after acquiring an additional 146 shares during the period. Fortem Financial Group LLC boosted its holdings in General Electric by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 3,378 shares of the conglomerate’s stock valued at $563,000 after acquiring an additional 66 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. increased its position in General Electric by 1.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 84,783 shares of the conglomerate’s stock valued at $14,141,000 after purchasing an additional 1,201 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GE. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday. They issued a “neutral” rating for the company. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Performance

Shares of GE stock opened at $172.85 on Thursday. The company has a market capitalization of $187.07 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $100.95 and a one year high of $194.80. The company’s 50-day moving average is $174.32 and its 200 day moving average is $173.28.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. Sell-side analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

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.