Mechanics Bank Trust Department Has $484,000 Stock Position in General Electric (NYSE:GE)

Mechanics Bank Trust Department grew its position in General Electric (NYSE:GE) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,899 shares of the conglomerate’s stock after buying an additional 200 shares during the quarter. Mechanics Bank Trust Department’s holdings in General Electric were worth $484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of General Electric by 505.8% during the third quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock worth $359,882,000 after purchasing an additional 1,593,413 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of General Electric by 3,827.4% during the second quarter. 1832 Asset Management L.P. now owns 1,100,463 shares of the conglomerate’s stock worth $174,941,000 after purchasing an additional 1,072,443 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of General Electric by 206.5% during the third quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 1.7 %

Shares of GE stock opened at $182.83 on Monday. General Electric has a 1 year low of $101.16 and a 1 year high of $194.80. The firm’s fifty day simple moving average is $174.33 and its 200 day simple moving average is $174.08. The firm has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised 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. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

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.