Security National Trust Co. Sells 11,780 Shares of General Electric (GE)

Security National Trust Co. cut its holdings in shares of General Electric (NYSE:GE) by 14.5% during the second quarter, HoldingsChannel reports. The firm owned 69,609 shares of the conglomerate’s stock after selling 11,780 shares during the period. Security National Trust Co.’s holdings in General Electric were worth $947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in General Electric by 167.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after acquiring an additional 39,268,675 shares in the last quarter. Franklin Resources Inc. boosted its stake in General Electric by 11.0% in the first quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in General Electric by 19.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 64,755,611 shares of the conglomerate’s stock valued at $1,129,985,000 after acquiring an additional 10,631,247 shares in the last quarter. BlackRock Inc. boosted its stake in General Electric by 1.5% in the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after acquiring an additional 7,675,642 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in General Electric by 88.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,941,772 shares of the conglomerate’s stock valued at $160,975,000 after acquiring an additional 5,607,494 shares in the last quarter. Hedge funds and other institutional investors own 53.69% of the company’s stock.

NYSE GE opened at $11.39 on Thursday. The firm has a market capitalization of $101.93 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 2.22 and a beta of 0.96. General Electric has a 12-month low of $11.21 and a 12-month high of $25.05. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $30.10 billion during the quarter, compared to analysts’ expectations of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.21 earnings per share. equities analysts anticipate that General Electric will post 0.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.21%. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

In other General Electric news, Director H Lawrence Culp, Jr. bought 191,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 24th. The stock was purchased at an average price of $13.04 per share, with a total value of $2,490,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.12% of the company’s stock.

Several equities research analysts have weighed in on GE shares. UBS Group set a $16.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Friday, June 1st. Royal Bank of Canada restated a “neutral” rating and issued a $15.00 target price on shares of General Electric in a research note on Wednesday, June 20th. Zacks Investment Research downgraded shares of General Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, June 22nd. JPMorgan Chase & Co. set a $11.00 target price on shares of General Electric and gave the company a “sell” rating in a research note on Wednesday, June 27th. Finally, Oppenheimer raised shares of General Electric from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.09.

About General Electric

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

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

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