Birchcreek Wealth Management LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Birchcreek Wealth Management LLC decreased its holdings in shares of General Electric (NYSE:GE) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,133 shares of the conglomerate’s stock after selling 187 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in General Electric were worth $214,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its position in General Electric by 8.8% in the first quarter. Orion Portfolio Solutions LLC now owns 38,147 shares of the conglomerate’s stock valued at $6,696,000 after purchasing an additional 3,095 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of General Electric by 1.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock valued at $663,000 after buying an additional 72 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of General Electric by 20.0% during the first quarter. Tocqueville Asset Management L.P. now owns 6,997 shares of the conglomerate’s stock valued at $1,228,000 after buying an additional 1,168 shares during the last quarter. Banco Santander S.A. boosted its position in shares of General Electric by 25.3% during the first quarter. Banco Santander S.A. now owns 4,906 shares of the conglomerate’s stock valued at $861,000 after buying an additional 992 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of General Electric during the 1st quarter valued at about $2,323,000. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.5 %

GE stock traded down $0.85 during trading on Friday, reaching $177.55. 416,936 shares of the company traded hands, compared to its average volume of 6,221,665. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The business has a 50 day simple moving average of $181.98 and a 200 day simple moving average of $170.48. The company has a market capitalization of $192.16 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction 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 trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.