Plimoth Trust Co. LLC Has $2.22 Million Position in General Electric (NYSE:GE)

Plimoth Trust Co. LLC lifted its holdings in General Electric (NYSE:GE) by 0.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,617 shares of the conglomerate’s stock after buying an additional 92 shares during the quarter. Plimoth Trust Co. LLC’s holdings in General Electric were worth $2,215,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Saxon Interests Inc. acquired a new stake in General Electric in the 1st quarter valued at approximately $235,000. Verum Partners LLC lifted its position in shares of General Electric by 7.1% in the first quarter. Verum Partners LLC now owns 2,926 shares of the conglomerate’s stock worth $514,000 after purchasing an additional 195 shares in the last quarter. Cullinan Associates Inc. acquired a new position in General Electric during the first quarter worth $2,051,000. Consilio Wealth Advisors LLC bought a new position in General Electric in the first quarter valued at $213,000. Finally, Claro Advisors LLC increased its stake in General Electric by 5.4% in the 1st quarter. Claro Advisors LLC now owns 4,202 shares of the conglomerate’s stock valued at $738,000 after buying an additional 216 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $161.47 on Wednesday. General Electric has a 12-month low of $84.42 and a 12-month high of $170.80. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The company has a market cap of $176.75 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The stock has a 50-day moving average price of $162.53 and a 200-day moving average price of $151.85.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. As a group, equities analysts forecast that General Electric will post 4 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GE shares. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. StockNews.com started coverage on General Electric in a research note on Monday, April 29th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Bank of America raised their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

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.