Fiduciary Trust Co. Cuts Stock Holdings in General Electric (NYSE:GE)

Fiduciary Trust Co. decreased its stake in shares of General Electric (NYSE:GEGet Rating) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,824 shares of the conglomerate’s stock after selling 1,412 shares during the period. Fiduciary Trust Co.’s holdings in General Electric were worth $4,140,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GE. Geode Capital Management LLC boosted its position in General Electric by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock worth $1,664,776,000 after purchasing an additional 513,385 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in General Electric by 6.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 38,880 shares of the conglomerate’s stock worth $3,673,000 after purchasing an additional 2,367 shares during the last quarter. Life Planning Partners Inc purchased a new position in General Electric in the fourth quarter worth $46,000. Level Four Advisory Services LLC boosted its position in General Electric by 59.9% in the fourth quarter. Level Four Advisory Services LLC now owns 5,086 shares of the conglomerate’s stock worth $480,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Sand Hill Global Advisors LLC raised its stake in shares of General Electric by 0.8% in the fourth quarter. Sand Hill Global Advisors LLC now owns 39,797 shares of the conglomerate’s stock valued at $3,760,000 after buying an additional 324 shares during the period. 67.37% of the stock is currently owned by institutional investors.

In related news, CEO H Lawrence Culp, Jr. acquired 65,000 shares of General Electric stock in a transaction on Monday, May 2nd. The shares were bought at an average cost of $74.53 per share, with a total value of $4,844,450.00. Following the completion of the purchase, the chief executive officer now directly owns 211,210 shares of the company’s stock, valued at approximately $15,741,481.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Electric Co General sold 72,025,826 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the sale, the insider now directly owns 3,931,363 shares in the company, valued at $135,435,455.35. The disclosure for this sale can be found here. Insiders bought 69,801 shares of company stock worth $5,207,705 over the last ninety days. Insiders own 0.70% of the company’s stock.

Several equities research analysts have weighed in on GE shares. Royal Bank of Canada increased their price objective on General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, March 11th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $94.00 price objective for the company in a report on Monday, March 7th. Morgan Stanley dropped their price objective on General Electric to $112.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $118.00 to $107.00 in a research report on Wednesday, April 27th. Finally, Barclays decreased their target price on General Electric from $100.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Buy” and an average target price of $115.67.

NYSE GE opened at $74.52 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 1.19. The business’s fifty day moving average is $85.34 and its 200 day moving average is $92.91. The company has a market capitalization of $82.02 billion, a PE ratio of -16.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02. General Electric has a fifty-two week low of $71.14 and a fifty-two week high of $116.17.

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

General Electric Company 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.

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

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