General Electric (NYSE:GE) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of General Electric (NYSE:GE) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,718 shares of the conglomerate’s stock after purchasing an additional 13,177 shares during the quarter. Fifth Third Bancorp’s holdings in General Electric were worth $70,839,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth about $27,000. Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in General Electric during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group raised their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.80.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $196.81 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average price is $174.93 and its 200 day moving average price is $174.77. The company has a market cap of $213.00 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 1.53 and a beta of 1.19. General Electric has a one year low of $103.75 and a one year high of $207.65.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. On average, research analysts predict that General Electric will post 4.23 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.57%. General Electric’s payout ratio is 19.68%.

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.