American National Bank & Trust Sells 504 Shares of General Electric (NYSE:GE)

American National Bank & Trust reduced its position in shares of General Electric (NYSE:GE) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,648 shares of the conglomerate’s stock after selling 504 shares during the period. American National Bank & Trust’s holdings in General Electric were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Centaurus Financial Inc. increased its holdings in General Electric by 53.1% in the second quarter. Centaurus Financial Inc. now owns 3,404 shares of the conglomerate’s stock valued at $541,000 after purchasing an additional 1,181 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of General Electric by 7.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,233 shares of the conglomerate’s stock valued at $196,000 after buying an additional 86 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of General Electric in the second quarter valued at about $725,000. Lazari Capital Management Inc. raised its position in shares of General Electric by 15.6% during the second quarter. Lazari Capital Management Inc. now owns 2,796 shares of the conglomerate’s stock worth $444,000 after acquiring an additional 377 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of General Electric in the second quarter worth approximately $17,179,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GE. UBS Group increased their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Sanford C. Bernstein initiated coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Price Performance

GE stock opened at $186.42 on Thursday. The company has a market capitalization of $204.06 billion, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. The business has a 50-day simple moving average of $172.79 and a two-hundred day simple moving average of $169.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s payout ratio is currently 36.72%.

General Electric Company 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.