AMG National Trust Bank Trims Stock Holdings in General Electric (NYSE:GE)

AMG National Trust Bank lowered its stake in shares of General Electric (NYSE:GE - Free Report) by 16.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,210 shares of the conglomerate's stock after selling 2,812 shares during the period. AMG National Trust Bank's holdings in General Electric were worth $2,259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. MFA Wealth Advisors LLC purchased a new stake in General Electric during the second quarter valued at $31,000. Bfsg LLC purchased a new stake in shares of General Electric during the 4th quarter valued at about $32,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric in the 4th quarter worth approximately $32,000. Richardson Financial Services Inc. purchased a new position in shares of General Electric in the first quarter worth approximately $34,000. Finally, Macroview Investment Management LLC grew its position in General Electric by 37.9% during 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 during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Stock Performance

Shares of NYSE:GE remained flat at $171.22 during midday trading on Monday. 3,499,804 shares of the company were exchanged, compared to its average volume of 6,815,970. The firm has a market capitalization of $187.42 billion, a PE ratio of 56.14, a PEG ratio of 1.70 and a beta of 1.21. The company's 50 day moving average is $164.55 and its two-hundred day moving average is $161.91. General Electric has a 12-month low of $84.42 and a 12-month high of $177.20. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric's dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

Several research analysts have weighed in on GE shares. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a "buy" rating in a research report on Monday, July 1st. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. StockNews.com cut General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $190.38.

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.