General Electric Company (GE) Shares Sold by Lincoln National Corp

Lincoln National Corp cut its holdings in General Electric Company (NYSE:GE) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,843 shares of the conglomerate’s stock after selling 717 shares during the period. Lincoln National Corp owned approximately 0.16% of General Electric worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of GE. Harris Associates L P grew its stake in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of General Electric by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock valued at $783,469,000 after buying an additional 1,357,535 shares during the period. APG Asset Management N.V. grew its stake in shares of General Electric by 0.9% in the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock valued at $477,629,000 after buying an additional 159,600 shares during the period. Boston Partners grew its stake in shares of General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after buying an additional 14,050,581 shares during the period. Finally, US Bancorp DE grew its stake in shares of General Electric by 2.2% in the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock valued at $309,996,000 after buying an additional 243,034 shares during the period. 55.76% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, with a total value of $100,320.00. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $100,320. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 120,500 shares of company stock worth $2,183,220. Insiders own 0.36% of the company’s stock.

General Electric Company (NYSE:GE) opened at $17.88 on Friday. The stock has a market capitalization of $155,056.88, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the firm posted $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts expect that General Electric Company will post 1.07 earnings per share for the current fiscal year.

Several brokerages have recently commented on GE. Goldman Sachs Group set a $19.00 target price on General Electric and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank reduced their target price on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research note on Tuesday, November 21st. J P Morgan Chase & Co set a $17.00 target price on General Electric and gave the company a “sell” rating in a research note on Wednesday, November 15th. Bank of America restated a “buy” rating and issued a $23.00 target price (down from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Finally, Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus price target of $24.31.

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About General Electric

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

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