M&T Bank Corp Sells 7,770 Shares of General Electric (NYSE:GE)

M&T Bank Corp trimmed its holdings in General Electric (NYSE:GE) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 204,025 shares of the conglomerate’s stock after selling 7,770 shares during the quarter. M&T Bank Corp’s holdings in General Electric were worth $34,029,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC lifted its stake in shares of General Electric by 10.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its stake in shares of General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 56 shares during the last quarter. WR Wealth Planners LLC lifted its stake in shares of General Electric by 30.6% during the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. lifted its stake in shares of General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 57 shares during the last quarter. Finally, Old North State Wealth Management LLC lifted its stake in shares of General Electric by 3.0% during the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 58 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 1.9 %

Shares of GE stock opened at $202.61 on Thursday. The stock’s 50-day simple moving average is $192.06 and its 200-day simple moving average is $182.77. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm has a market capitalization of $217.46 billion, a PE ratio of 33.83, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $126.78 and a fifty-two week high of $212.19.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Equities analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. General Electric’s dividend payout ratio is presently 24.04%.

Analysts Set New Price Targets

Several research analysts recently issued reports on GE shares. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Northcoast Research started coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America upped their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.31.

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.