General Electric (NYSE:GE) Stake Boosted by Huntington National Bank

Huntington National Bank boosted its stake in General Electric (NYSE:GE) by 7.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 485,225 shares of the conglomerate’s stock after purchasing an additional 33,137 shares during the period. Huntington National Bank’s holdings in General Electric were worth $91,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GE. Edmond DE Rothschild Holding S.A. increased its holdings in shares of General Electric by 25.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 469 shares of the conglomerate’s stock valued at $82,000 after purchasing an additional 94 shares during the period. TBH Global Asset Management LLC grew its holdings in General Electric by 17.0% during the first quarter. TBH Global Asset Management LLC now owns 2,307 shares of the conglomerate’s stock worth $405,000 after acquiring an additional 336 shares during the period. Blair William & Co. IL grew its holdings in General Electric by 5.8% during the first quarter. Blair William & Co. IL now owns 174,301 shares of the conglomerate’s stock worth $30,595,000 after acquiring an additional 9,587 shares during the period. Orion Portfolio Solutions LLC grew its holdings in General Electric by 8.8% during the first quarter. Orion Portfolio Solutions LLC now owns 38,147 shares of the conglomerate’s stock worth $6,696,000 after acquiring an additional 3,095 shares during the period. Finally, Leo Wealth LLC acquired a new position in General Electric during the first quarter worth about $206,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Up 0.5 %

General Electric stock opened at $183.54 on Thursday. General Electric has a 1-year low of $92.46 and a 1-year high of $194.80. The firm’s fifty day simple moving average is $181.35 and its 200-day simple moving average is $170.33. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $198.64 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.61%. General Electric’s payout ratio is 19.68%.

General Electric Profile

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.