Huntington National Bank lessened its position in shares of General Electric (NYSE:GE) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 397,409 shares of the conglomerate’s stock after selling 101,086 shares during the quarter. Huntington National Bank’s holdings in General Electric were worth $3,970,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GE. Beacon Investment Advisory Services Inc. boosted its position in General Electric by 1.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock worth $447,000 after acquiring an additional 1,013 shares during the last quarter. BigSur Wealth Management LLC boosted its position in General Electric by 3.4% during the fourth quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 1,048 shares during the last quarter. Cetera Investment Advisers boosted its position in General Electric by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock worth $818,000 after acquiring an additional 1,054 shares during the last quarter. Ford Financial Group Inc. boosted its position in General Electric by 7.8% during the fourth quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock worth $122,000 after acquiring an additional 1,171 shares during the last quarter. Finally, Condor Capital Management boosted its position in General Electric by 3.5% during the fourth quarter. Condor Capital Management now owns 34,901 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 1,173 shares during the last quarter. Institutional investors own 57.91% of the company’s stock.
A number of equities analysts recently weighed in on GE shares. Credit Suisse Group restated a “neutral” rating and set a $11.00 price target on shares of General Electric in a research report on Friday, March 8th. Zacks Investment Research upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday, May 20th. Deutsche Bank boosted their price target on shares of General Electric from $8.00 to $11.00 and gave the stock a “positive” rating in a research report on Monday, February 25th. They noted that the move was a valuation call. William Blair restated a “buy” rating on shares of General Electric in a research report on Thursday, May 23rd. Finally, Gordon Haskett lowered shares of General Electric to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.11.
In other news, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total value of $12,921,170.76. Following the sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.
Shares of GE stock opened at $10.31 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62. General Electric has a 12 month low of $6.66 and a 12 month high of $14.44. The stock has a market cap of $89.65 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.34 and a beta of 0.98.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The company had revenue of $27.29 billion for the quarter, compared to the consensus estimate of $27.31 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. General Electric’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 0.61 EPS for the current fiscal year.
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About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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