Stock Yards Bank & Trust Co. trimmed its stake in General Electric (NYSE:GE) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,095 shares of the conglomerate’s stock after selling 4,868 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in General Electric were worth $1,175,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in General Electric by 158.6% in the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock worth $2,799,528,000 after acquiring an additional 126,169,069 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in General Electric by 43.9% in the first quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after acquiring an additional 27,527,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in General Electric by 15.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after acquiring an additional 9,835,343 shares in the last quarter. Morgan Stanley boosted its holdings in General Electric by 26.1% in the second quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock worth $741,852,000 after acquiring an additional 11,294,608 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of General Electric by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,605,388 shares of the conglomerate’s stock worth $498,200,000 after purchasing an additional 2,172,085 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on GE shares. UBS Group cut General Electric to an “add” rating and set a $23.00 price target for the company. in a research note on Tuesday, October 2nd. Morningstar set a $15.70 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, August 13th. Gabelli restated a “buy” rating and issued a $21.00 price target on shares of General Electric in a research note on Monday, September 24th. Citigroup set a $21.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $15.00 price target on shares of General Electric in a research note on Tuesday, October 30th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average target price of $13.86.
General Electric stock opened at $7.28 on Thursday. The firm has a market cap of $63.21 billion, a P/E ratio of 6.93, a PEG ratio of 2.07 and a beta of 0.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.36. General Electric has a one year low of $7.26 and a one year high of $19.39.
General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The firm had revenue of $29.57 billion for the quarter, compared to analysts’ expectations of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. As a group, research analysts anticipate that General Electric will post 0.67 earnings per share for the current year.
In other news, SVP Alexander Dimitrief acquired 10,000 shares of General Electric stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average price of $9.48 per share, for a total transaction of $94,800.00. Following the completion of the transaction, the senior vice president now owns 103,075 shares in the company, valued at $977,151. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of General Electric stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average price of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 295,000 shares of company stock valued at $2,783,250. 1.12% of the stock is owned by company insiders.
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About General Electric
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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