General Electric (NYSE:GE) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of General Electric (NYSE:GE) by 38.1% in the third quarter, HoldingsChannel reports. The firm owned 9,006 shares of the conglomerate’s stock after selling 5,536 shares during the period. Pitcairn Co.’s holdings in General Electric were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GE. Tsfg LLC grew its holdings in General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares during the period. Macroview Investment Management LLC increased its holdings in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC lifted its stake in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in General Electric by 1.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after buying an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD grew its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Stock Performance

Shares of General Electric stock opened at $181.15 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average price is $183.22 and its 200 day moving average price is $171.12. The company has a market cap of $196.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.76 and a beta of 1.19. General Electric has a one year low of $94.54 and a one year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

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.