M&T Bank Corp Cuts Position in General Electric (NYSE:GE)

M&T Bank Corp reduced its stake in shares of General Electric (NYSE:GE - Free Report) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 204,025 shares of the conglomerate's stock after selling 7,770 shares during the period. M&T Bank Corp's holdings in General Electric were worth $34,029,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter worth $25,000. Hager Investment Management Services LLC bought a new stake in shares of General Electric during the 4th quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in General Electric in the fourth quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in General Electric in the third quarter worth $30,000. 74.77% of the stock is owned by institutional investors.

General Electric Trading Down 1.0 %

Shares of NYSE GE traded down $1.97 during midday trading on Friday, hitting $194.08. 7,681,174 shares of the company traded hands, compared to its average volume of 5,375,542. General Electric has a 12-month low of $130.38 and a 12-month high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a 50-day moving average price of $193.02 and a 200 day moving average price of $183.11. The firm has a market cap of $208.31 billion, a P/E ratio of 32.40, a P/E/G ratio of 2.59 and a beta of 1.19.

Remove Ads

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.74%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Bank of America boosted their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.31.

General Electric Company 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.