Plimoth Trust Co. LLC Buys 251 Shares of General Electric (NYSE:GE)

Plimoth Trust Co. LLC lifted its stake in General Electric (NYSE:GE) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,058 shares of the conglomerate’s stock after buying an additional 251 shares during the period. Plimoth Trust Co. LLC’s holdings in General Electric were worth $2,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC lifted its holdings in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the period. Macroview Investment Management LLC boosted its position in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC grew its stake in General Electric by 2.6% during the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD grew its stake in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the last quarter. Finally, New England Research & Management Inc. increased its holdings in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.8 %

Shares of NYSE:GE traded up $1.62 during mid-day trading on Monday, reaching $194.23. The stock had a trading volume of 4,687,218 shares, compared to its average volume of 6,325,976. The firm has a 50 day simple moving average of $178.51 and a two-hundred day simple moving average of $167.58. General Electric has a twelve month low of $84.58 and a twelve month high of $194.80. The firm has a market cap of $212.61 billion, a PE ratio of 63.31, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group raised their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

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.