Chevy Chase Trust Holdings LLC Sells 5,029 Shares of General Electric (NYSE:GE)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 605,873 shares of the conglomerate’s stock after selling 5,029 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in General Electric were worth $96,316,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GE. Vanguard Group Inc. lifted its holdings in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Capital International Investors lifted its holdings in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Capital World Investors lifted its holdings in General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new position in General Electric during the fourth quarter valued at approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board lifted its holdings in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Bank of America boosted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $190.38.

General Electric Trading Down 0.6 %

GE stock traded down $0.99 during mid-day trading on Tuesday, reaching $169.94. 2,573,487 shares of the stock traded hands, compared to its average volume of 6,893,465. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a one year low of $84.42 and a one year high of $177.20. The stock has a market capitalization of $186.02 billion, a PE ratio of 55.70, a PEG ratio of 1.70 and a beta of 1.21. The business has a 50-day moving average price of $163.41 and a two-hundred day moving average price of $160.76.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

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.