M&T Bank Corp Trims Stake in General Electric (NYSE:GE)

M&T Bank Corp cut its position in General Electric (NYSE:GE - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,607 shares of the conglomerate's stock after selling 5,662 shares during the quarter. M&T Bank Corp's holdings in General Electric were worth $28,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. grew its stake in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate's stock valued at $550,000 after buying an additional 74 shares during the last quarter. Atlas Brown Inc. increased its stake in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate's stock worth $1,062,000 after purchasing an additional 85 shares during the period. Capital Analysts LLC lifted its position in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Capital Investment Counsel Inc boosted its stake in shares of General Electric by 2.2% during the fourth quarter. Capital Investment Counsel Inc now owns 4,031 shares of the conglomerate's stock valued at $514,000 after purchasing an additional 88 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of General Electric by 9.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate's stock worth $131,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 74.77% of the company's stock.

General Electric Stock Performance

General Electric stock traded up $1.47 during mid-day trading on Friday, reaching $164.11. 3,968,626 shares of the stock traded hands, compared to its average volume of 7,987,890. The stock has a market capitalization of $179.64 billion, a PE ratio of 53.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The business's 50-day moving average is $161.93 and its 200-day moving average is $137.89. General Electric has a 12-month low of $77.93 and a 12-month high of $166.26.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to analysts' expectations of $15.25 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a $0.28 dividend. This is a positive change from General Electric's previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. General Electric's dividend payout ratio is presently 36.72%.

Analyst Ratings Changes

Several research firms have weighed in on GE. Bank of America increased their price objective on General Electric from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. dropped their price target on General Electric from $180.00 to $148.00 and set an "overweight" rating for the company in a research note on Tuesday, April 2nd. Barclays reduced their price objective on shares of General Electric from $181.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 3rd. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a "buy" rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company increased their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an "overweight" rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $172.29.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company's stock.

General Electric Profile

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.