Coastline Trust Co Acquires 3,748 Shares of General Electric (NYSE:GE)

Coastline Trust Co boosted its holdings in shares of General Electric (NYSE:GE) by 325.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,900 shares of the conglomerate’s stock after purchasing an additional 3,748 shares during the quarter. Coastline Trust Co’s holdings in General Electric were worth $779,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GE. Vanguard Group Inc. lifted its position in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the period. Capital International Investors lifted its position in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Norges Bank acquired a new position in shares of General Electric in the 4th quarter worth approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 0.4 %

Shares of NYSE GE traded down $0.74 during midday trading on Monday, hitting $166.39. The stock had a trading volume of 1,310,593 shares, compared to its average volume of 7,007,023. The company’s 50-day simple moving average is $162.56 and its 200 day simple moving average is $159.21. The firm has a market cap of $182.13 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $177.20. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.15 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays increased their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.38.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate 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.