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

Fulton Bank N.A. increased its stake in General Electric (NYSE:GE) by 217.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,888 shares of the conglomerate’s stock after buying an additional 4,033 shares during the quarter. Fulton Bank N.A.’s holdings in General Electric were worth $982,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC increased its stake in shares of General Electric by 1.9% during the 2nd quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock worth $591,000 after purchasing an additional 70 shares during the last quarter. Quest Partners LLC grew its holdings in General Electric by 28,412.5% during the second quarter. Quest Partners LLC now owns 2,281 shares of the conglomerate’s stock valued at $363,000 after purchasing an additional 2,273 shares during the period. Prudential PLC increased its position in General Electric by 11.0% in the second quarter. Prudential PLC now owns 23,536 shares of the conglomerate’s stock worth $3,742,000 after buying an additional 2,334 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of General Electric by 2.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,880 shares of the conglomerate’s stock valued at $617,000 after buying an additional 103 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of General Electric by 15.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 17,938 shares of the conglomerate’s stock valued at $2,852,000 after buying an additional 2,358 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

GE stock opened at $172.85 on Thursday. The firm has a 50 day simple moving average of $174.32 and a two-hundred day simple moving average of $173.28. The stock has a market cap of $187.07 billion, a PE ratio of 30.38, a P/E/G ratio of 1.63 and a beta of 1.19. General Electric has a one year low of $100.95 and a one year high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

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

General Electric Dividend Announcement

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

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned 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.

About General Electric

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.