General Electric (NYSE:GE) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp lowered its stake in shares of General Electric (NYSE:GE) by 3.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,861 shares of the conglomerate’s stock after selling 223 shares during the period. Tompkins Financial Corp’s holdings in General Electric were worth $644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Northstar Group Inc. raised its holdings in shares of General Electric by 2.9% in the 1st quarter. Northstar Group Inc. now owns 3,673 shares of the conglomerate’s stock worth $351,000 after purchasing an additional 104 shares during the period. WMS Partners LLC increased its position in General Electric by 1.3% during the 1st quarter. WMS Partners LLC now owns 8,500 shares of the conglomerate’s stock worth $813,000 after purchasing an additional 109 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in General Electric by 0.3% during the first quarter. ZWJ Investment Counsel Inc. now owns 43,634 shares of the conglomerate’s stock valued at $4,171,000 after buying an additional 110 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in General Electric by 2.9% during the first quarter. HHM Wealth Advisors LLC now owns 3,972 shares of the conglomerate’s stock valued at $380,000 after buying an additional 113 shares in the last quarter. Finally, Sandy Spring Bank grew its stake in General Electric by 2.9% during the first quarter. Sandy Spring Bank now owns 4,044 shares of the conglomerate’s stock worth $387,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 74.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group boosted their price objective on shares of General Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Barclays boosted their price target on General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Argus raised their price objective on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, Wolfe Research increased their target price on General Electric from $107.00 to $125.00 in a research note on Wednesday, June 28th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

General Electric Stock Performance

Shares of NYSE:GE traded down $0.43 during trading on Tuesday, hitting $116.14. 484,901 shares of the company traded hands, compared to its average volume of 6,100,861. The stock has a market capitalization of $126.40 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 7.21 and a beta of 1.28. General Electric has a one year low of $48.06 and a one year high of $117.96. The company has a quick ratio of 0.90, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average is $112.98 and its 200-day moving average is $104.05.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.22. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The firm had revenue of $15.85 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts predict that General Electric will post 2.29 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Tuesday, September 26th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 25th. General Electric’s payout ratio is 3.80%.

Insiders Place Their Bets

In other General Electric news, major shareholder General Electric Pension Trust purchased 35,160 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were bought at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the acquisition, the insider now owns 175,160 shares in the company, valued at approximately $174,361,270.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder General Electric Pension Trust acquired 35,160 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the completion of the sale, the senior vice president now directly owns 57,923 shares of the company’s stock, valued at approximately $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.