United Bank lowered its stake in General Electric (NYSE:GE) by 71.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,418 shares of the conglomerate’s stock after selling 55,037 shares during the quarter. United Bank’s holdings in General Electric were worth $391,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in GE. KCS Wealth Advisory acquired a new position in shares of General Electric in the fourth quarter valued at approximately $183,000. Northwest Capital Management Inc acquired a new position in shares of General Electric in the fourth quarter valued at approximately $191,000. Broadleaf Partners LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $195,000. Chicago Equity Partners LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $195,000. Finally, Barber Financial Group Inc. acquired a new position in shares of General Electric in the fourth quarter valued at approximately $196,000. 53.88% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on GE shares. Royal Bank of Canada cut their price target on General Electric to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, January 25th. Citigroup cut their price target on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. DZ Bank reiterated a “neutral” rating on shares of General Electric in a research note on Friday, January 26th. Credit Suisse Group restated a “hold” rating and set a $16.00 target price on shares of General Electric in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus cut their target price on General Electric from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, January 30th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.92.
In related news, major shareholder Electric Co General sold 3,883,000 shares of the stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.12% of the company’s stock.
Shares of General Electric opened at $14.60 on Friday, MarketBeat reports. The firm has a market cap of $123.12 billion, a PE ratio of 13.90, a P/E/G ratio of 2.78 and a beta of 1.02. General Electric has a 52-week low of $12.73 and a 52-week high of $29.47. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The business had revenue of $28.66 billion during the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. General Electric’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. sell-side analysts anticipate that General Electric will post 0.96 EPS for the current year.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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