Glenmede Trust Co. NA Increases Stake in General Electric (NYSE:GE)

Glenmede Trust Co. NA boosted its stake in General Electric (NYSE:GE) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 93,751 shares of the conglomerate’s stock after buying an additional 1,016 shares during the quarter. Glenmede Trust Co. NA’s holdings in General Electric were worth $17,680,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter valued at approximately $2,613,332,000. Jennison Associates LLC raised its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in General Electric during the second quarter valued at $580,200,000. International Assets Investment Management LLC boosted its holdings in shares of General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after buying an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. grew its position in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after buying an additional 1,605,434 shares during the period. 74.77% of the stock is owned by institutional investors.

General Electric Trading Down 2.2 %

Shares of GE stock opened at $180.60 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The stock has a market capitalization of $195.46 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 1.19. The firm’s 50 day moving average is $183.12 and its 200 day moving average is $171.50.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Research analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, 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 directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GE. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

About General Electric

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.