CNB Bank Buys 2,288 Shares of General Electric (GE)

CNB Bank grew its stake in General Electric (NYSE:GE) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,786 shares of the conglomerate’s stock after purchasing an additional 2,288 shares during the quarter. CNB Bank’s holdings in General Electric were worth $263,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust bought a new stake in General Electric during the third quarter worth $274,000. Arizona State Retirement System increased its position in General Electric by 1.0% in the third quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock worth $24,320,000 after buying an additional 20,500 shares during the last quarter. Bridgewater Associates LP purchased a new stake in General Electric in the third quarter worth $22,723,000. Toronto Dominion Bank increased its position in General Electric by 7.7% in the third quarter. Toronto Dominion Bank now owns 6,182,118 shares of the conglomerate’s stock worth $69,780,000 after buying an additional 442,667 shares during the last quarter. Finally, National Pension Service increased its position in General Electric by 0.3% in the third quarter. National Pension Service now owns 7,744,745 shares of the conglomerate’s stock worth $87,438,000 after buying an additional 22,956 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

A number of analysts have issued reports on GE shares. Credit Suisse Group set a $10.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Thursday, January 3rd. Vertical Research raised General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.16 target price (up from $1.06) on shares of General Electric in a research report on Friday, February 1st. Argus raised General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Finally, Royal Bank of Canada raised their target price on General Electric from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.39.

In other news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.13% of the stock is currently owned by insiders.

Shares of NYSE GE opened at $9.14 on Wednesday. The firm has a market capitalization of $78.14 billion, a PE ratio of 14.06, a P/E/G ratio of 3.98 and a beta of 0.99. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $15.59. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. As a group, equities research analysts predict that General Electric will post 0.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

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General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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