Sanibel Captiva Trust Company Inc. Has $4.31 Million Stake in General Electric (NYSE:GE)

Sanibel Captiva Trust Company Inc. grew its holdings in shares of General Electric (NYSE:GE - Free Report) by 28.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,808 shares of the conglomerate's stock after buying an additional 5,710 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in General Electric were worth $4,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tsfg LLC increased its position in General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate's stock worth $92,000 after buying an additional 55 shares during the period. Saxon Interests Inc. increased its holdings in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock valued at $238,000 after acquiring an additional 57 shares during the period. Strategic Advisors LLC raised its position in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate's stock valued at $428,000 after purchasing an additional 58 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate's stock worth $1,188,000 after purchasing an additional 60 shares during the period. Finally, Meridian Management Co. boosted its stake in General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate's stock worth $972,000 after purchasing an additional 61 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating for the company. Finally, Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $201.47.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction that occurred 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 directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company's stock, 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. 0.66% of the stock is owned by insiders.

General Electric Stock Performance

General Electric stock traded up $3.09 during midday trading on Friday, reaching $182.83. 5,887,078 shares of the stock traded hands, compared to its average volume of 4,238,171. General Electric has a fifty-two week low of $101.16 and a fifty-two week high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $197.87 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The firm has a fifty day moving average price of $174.33 and a two-hundred day moving average price of $174.00.

General Electric (NYSE:GE - Get Free Report) last issued 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 the consensus estimate of $9.02 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 4.23 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric's payout ratio is 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.