Enterprise Financial Services Corp Sells 4,233 Shares of General Electric (NYSE:GE)

Enterprise Financial Services Corp lessened its stake in shares of General Electric (NYSE:GEGet Rating) by 44.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,285 shares of the conglomerate’s stock after selling 4,233 shares during the period. Enterprise Financial Services Corp’s holdings in General Electric were worth $500,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of General Electric by 5.7% in the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after purchasing an additional 2,238,808 shares during the last quarter. National Pension Service acquired a new position in shares of General Electric in the third quarter valued at approximately $149,257,000. Pzena Investment Management LLC grew its position in shares of General Electric by 8.4% in the fourth quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock valued at $1,042,334,000 after purchasing an additional 852,849 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of General Electric by 96.3% in the fourth quarter. Baird Financial Group Inc. now owns 1,562,667 shares of the conglomerate’s stock valued at $147,625,000 after purchasing an additional 766,601 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in General Electric during the fourth quarter worth approximately $66,937,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Shares of GE traded down $0.99 during trading hours on Wednesday, hitting $73.53. The stock had a trading volume of 98,613 shares, compared to its average volume of 6,922,255. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $85.34 and a 200-day simple moving average of $92.91. The firm has a market capitalization of $80.93 billion, a P/E ratio of -16.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. General Electric has a 1-year low of $71.14 and a 1-year high of $116.17.

General Electric (NYSE:GEGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $17.04 billion during the quarter, compared to the consensus estimate of $16.92 billion. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Equities analysts predict that General Electric will post 2.83 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target on General Electric to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 17th. Credit Suisse Group reduced their target price on General Electric from $113.00 to $102.00 in a report on Wednesday, April 27th. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a report on Monday, March 7th. Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $118.00 to $107.00 in a research note on Wednesday, April 27th. Finally, Royal Bank of Canada increased their price target on General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, March 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $115.67.

In other news, Director Paula Rosput Reynolds bought 1,200 shares of the company’s stock in a transaction on Friday, May 6th. The shares were purchased at an average price of $77.65 per share, with a total value of $93,180.00. Following the transaction, the director now directly owns 5,563 shares in the company, valued at $431,966.95. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Electric Co General sold 72,025,826 shares of General Electric stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the transaction, the insider now directly owns 3,931,363 shares in the company, valued at approximately $135,435,455.35. The disclosure for this sale can be found here. Insiders have acquired a total of 69,801 shares of company stock valued at $5,207,705 in the last quarter. Company insiders own 0.70% of the company’s stock.

General Electric Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

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

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