Equitable Trust Co. Trims Stake in General Electric (NYSE:GE)

Equitable Trust Co. lowered its position in General Electric (NYSE:GE) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,977 shares of the conglomerate’s stock after selling 5,826 shares during the quarter. Equitable Trust Co.’s holdings in General Electric were worth $4,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Leavell Investment Management Inc. boosted its position in shares of General Electric by 70.8% during the 3rd quarter. Leavell Investment Management Inc. now owns 8,469 shares of the conglomerate’s stock valued at $1,599,000 after acquiring an additional 3,512 shares during the last quarter. Hollencrest Capital Management lifted its position in General Electric by 4.0% during the third quarter. Hollencrest Capital Management now owns 10,419 shares of the conglomerate’s stock valued at $1,965,000 after purchasing an additional 403 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of General Electric in the 3rd quarter worth $389,000. JB Capital LLC raised its position in shares of General Electric by 2.9% during the 3rd quarter. JB Capital LLC now owns 2,968 shares of the conglomerate’s stock valued at $560,000 after buying an additional 83 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its holdings in shares of General Electric by 31.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 3,154 shares of the conglomerate’s stock worth $595,000 after acquiring an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GE. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

General Electric Stock Up 3.4 %

Shares of General Electric stock opened at $184.92 on Friday. General Electric has a 1 year low of $90.34 and a 1 year high of $194.80. The firm has a market cap of $200.13 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.70 and a beta of 1.19. The company has a 50-day moving average of $180.78 and a 200 day moving average of $169.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 19.68%.

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.