General Electric (NYSE:GE) Shares Acquired by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. boosted its stake in General Electric (NYSE:GE) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,808 shares of the conglomerate’s stock after purchasing an additional 5,710 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in General Electric were worth $4,305,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp purchased a new stake in shares of General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the third quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric during the third quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the 3rd quarter valued at $30,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Northcoast Research began coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating on the stock. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Performance

Shares of GE stock opened at $182.83 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average of $174.38 and a two-hundred day moving average of $173.83. The company has a market cap of $197.87 billion, a P/E ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. As a group, analysts anticipate that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

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 given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio is presently 19.68%.

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.