Canandaigua National Bank & Trust Co. Grows Position in General Electric (NYSE:GE)

Canandaigua National Bank & Trust Co. grew its position in shares of General Electric (NYSE:GE) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,502 shares of the conglomerate’s stock after purchasing an additional 146 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in General Electric were worth $2,419,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GE. Fortem Financial Group LLC grew its holdings in General Electric by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 3,378 shares of the conglomerate’s stock valued at $563,000 after purchasing an additional 66 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in General Electric by 1.4% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 84,783 shares of the conglomerate’s stock valued at $14,141,000 after purchasing an additional 1,201 shares in the last quarter. CWA Asset Management Group LLC grew its position in shares of General Electric by 14.0% in the fourth quarter. CWA Asset Management Group LLC now owns 4,828 shares of the conglomerate’s stock valued at $805,000 after purchasing an additional 594 shares during the period. Versant Capital Management Inc increased its stake in shares of General Electric by 18.4% during the fourth quarter. Versant Capital Management Inc now owns 18,180 shares of the conglomerate’s stock worth $3,032,000 after purchasing an additional 2,828 shares in the last quarter. Finally, Old Port Advisors raised its position in shares of General Electric by 1.4% during the 4th quarter. Old Port Advisors now owns 5,609 shares of the conglomerate’s stock worth $936,000 after purchasing an additional 78 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on GE. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.47.

Insider Activity at General Electric

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

General Electric Stock Up 0.3 %

NYSE GE traded up $0.58 on Monday, hitting $172.54. 4,719,072 shares of the stock were exchanged, compared to its average volume of 3,964,266. General Electric has a fifty-two week low of $99.37 and a fifty-two week high of $194.80. The company has a 50-day moving average price of $174.45 and a 200-day moving average price of $173.17. 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 company has a market cap of $186.74 billion, a PE ratio of 30.32, a PEG ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is 19.68%.

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.