Mill Creek Capital Advisors LLC Reduces Position in General Electric (NYSE:GE)

Mill Creek Capital Advisors LLC decreased its position in shares of General Electric (NYSE:GE) by 45.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,594 shares of the conglomerate’s stock after selling 2,202 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in General Electric were worth $489,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Davis R M Inc. lifted its stake in General Electric by 18.8% in the 1st quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock worth $649,000 after purchasing an additional 586 shares in the last quarter. Trustmark National Bank Trust Department lifted its stake in General Electric by 10.7% in the 1st quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock worth $603,000 after purchasing an additional 332 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in General Electric by 4.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock worth $998,000 after purchasing an additional 251 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in General Electric by 141.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 20,650 shares of the conglomerate’s stock worth $3,625,000 after purchasing an additional 12,099 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in General Electric in the 1st quarter worth $204,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE:GE opened at $176.93 on Monday. The company has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The firm’s 50-day moving average is $182.29 and its 200 day moving average is $170.71. 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 (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Research analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.