Kentucky Trust Co Takes Position in General Electric (NYSE:GE)

Kentucky Trust Co purchased a new stake in General Electric (NYSE:GE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,167 shares of the conglomerate's stock, valued at approximately $361,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tsfg LLC boosted its holdings in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate's stock valued at $92,000 after buying an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings in General Electric by 4.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate's stock valued at $241,000 after purchasing an additional 56 shares during the last quarter. Saxon Interests Inc. lifted its holdings in General Electric by 4.2% during the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate's stock valued at $238,000 after purchasing an additional 57 shares during the last quarter. Old North State Wealth Management LLC lifted its holdings in 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 valued at $331,000 after purchasing an additional 58 shares during the last quarter. Finally, Northeast Investment Management lifted its holdings in General Electric by 2.2% during the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate's stock valued at $452,000 after purchasing an additional 59 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GE. JPMorgan Chase & Co. raised their price target on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Citigroup raised their price target on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a 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. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.73.

General Electric Price Performance

Shares of NYSE GE traded up $0.26 during mid-day trading on Friday, reaching $208.62. The company had a trading volume of 4,267,083 shares, compared to its average volume of 6,009,583. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a one year low of $117.43 and a one year high of $211.42. The firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. The business's 50-day simple moving average is $182.66 and its 200 day simple moving average is $179.25.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly 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%. On average, research analysts predict that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.69%. General Electric's dividend payout ratio (DPR) is 18.70%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company's stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

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.