Webster Bank N. A. Sells 167 Shares of General Electric (NYSE:GE)

Webster Bank N. A. reduced its holdings in General Electric (NYSE:GE) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,343 shares of the conglomerate’s stock after selling 167 shares during the quarter. Webster Bank N. A.’s holdings in General Electric were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GE. Vanguard Group Inc. raised its stake in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Norges Bank bought a new stake in General Electric in the 4th quarter valued at $1,193,159,000. Morgan Stanley lifted its holdings in General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after purchasing an additional 434,736 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in General Electric by 6.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after purchasing an additional 426,794 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of General Electric by 62.3% in the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after purchasing an additional 1,873,327 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 1.0 %

Shares of GE opened at $158.97 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 52-week low of $84.42 and a 52-week high of $170.80. The firm has a market cap of $174.01 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 1.71 and a beta of 1.23. The business’s fifty day moving average is $162.36 and its 200-day moving average is $151.37.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts anticipate that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. General Electric’s dividend payout ratio is currently 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Bank of America boosted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. UBS Group upped their price target on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Argus lifted their price objective on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.36.

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.