Field & Main Bank Reduces Position in General Electric (NYSE:GE)

Field & Main Bank cut its holdings in shares of General Electric (NYSE:GE) by 86.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,465 shares of the conglomerate’s stock after selling 23,065 shares during the period. Field & Main Bank’s holdings in General Electric were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GE. West Branch Capital LLC purchased a new stake in shares of General Electric during the second quarter valued at $33,000. Financial Insights Inc. purchased a new position in General Electric in the second quarter worth about $38,000. Truvestments Capital LLC boosted its position in General Electric by 112.2% in the second quarter. Truvestments Capital LLC now owns 2,837 shares of the conglomerate’s stock worth $38,000 after purchasing an additional 1,500 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in General Electric in the second quarter worth about $42,000. Finally, Evolution Wealth Advisors LLC boosted its position in General Electric by 53.9% in the second quarter. Evolution Wealth Advisors LLC now owns 3,714 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 1,300 shares during the last quarter.

In related news, Director Leslie Seidman bought 1,000 shares of the company’s stock in a transaction dated Monday, November 22nd. The stock was purchased at an average price of $100.59 per share, for a total transaction of $100,590.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders bought 2,051 shares of company stock valued at $210,673. Company insiders own 0.71% of the company’s stock.

NYSE GE traded up $0.15 during trading on Thursday, hitting $102.23. 5,569,121 shares of the stock traded hands, compared to its average volume of 8,669,891. The company has a market capitalization of $112.26 billion, a P/E ratio of -196.60, a price-to-earnings-growth ratio of 9.35 and a beta of 1.03. The firm has a 50-day simple moving average of $104.27 and a 200-day simple moving average of $104.77. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 1.47. General Electric has a 12-month low of $79.68 and a 12-month high of $116.17.

General Electric (NYSE:GE) last announced its earnings results on Monday, October 25th. The conglomerate reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.14. The firm had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $19.17 billion. General Electric had a positive return on equity of 5.88% and a negative net margin of 0.05%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, research analysts predict that General Electric will post 2.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 25th. Stockholders of record on Monday, September 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, September 24th. General Electric’s dividend payout ratio (DPR) is -61.54%.

Several research analysts have recently commented on GE shares. Morgan Stanley started coverage on General Electric in a research note on Tuesday. They issued an “overweight” rating and a $125.00 price objective on the stock. Wolfe Research raised their price objective on General Electric from $132.00 to $136.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Cowen raised their price objective on General Electric from $108.00 to $126.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft raised General Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $119.00 to $131.00 in a research note on Tuesday, November 9th. Finally, Royal Bank of Canada raised their price objective on General Electric from $127.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $122.18.

General Electric Company Profile

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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