Sandy Spring Bank decreased its position in General Electric (NYSE:GE) by 44.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 116,463 shares of the conglomerate’s stock after selling 92,908 shares during the period. Sandy Spring Bank’s holdings in General Electric were worth $2,033,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GE. Gould Asset Management LLC CA increased its holdings in shares of General Electric by 20.3% during the third quarter. Gould Asset Management LLC CA now owns 15,329 shares of the conglomerate’s stock valued at $371,000 after acquiring an additional 2,588 shares in the last quarter. Nicolet Bankshares Inc. increased its holdings in General Electric by 4.4% in the 3rd quarter. Nicolet Bankshares Inc. now owns 63,543 shares of the conglomerate’s stock worth $1,536,000 after buying an additional 2,686 shares in the last quarter. IBM Retirement Fund increased its holdings in General Electric by 1.3% in the 3rd quarter. IBM Retirement Fund now owns 215,551 shares of the conglomerate’s stock worth $5,736,000 after buying an additional 2,719 shares in the last quarter. First United Bank Trust increased its holdings in General Electric by 31.2% in the 4th quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock worth $202,000 after buying an additional 2,760 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. increased its holdings in General Electric by 6.1% in the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 48,475 shares of the conglomerate’s stock worth $1,174,000 after buying an additional 2,800 shares in the last quarter. 55.96% of the stock is owned by institutional investors.
Shares of General Electric opened at $15.03 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48. General Electric has a 1-year low of $14.70 and a 1-year high of $14.95. The firm has a market cap of $130.50 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.92 and a beta of 1.02.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. equities analysts forecast that General Electric will post 0.96 EPS for the current fiscal year.
In related news, major shareholder Electric Co General sold 3,883,000 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total transaction of $58,245,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on GE. JPMorgan Chase restated a “sell” rating and set a $16.00 price target on shares of General Electric in a research note on Wednesday, January 24th. Goldman Sachs set a $18.00 price target on General Electric and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Morningstar set a $23.50 price objective on General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada set a $20.00 price target on General Electric and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Citigroup lowered their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.92.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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