Pitcairn Co. Decreases Holdings in General Electric (NYSE:GE)

Pitcairn Co. reduced its position in General Electric (NYSE:GE) by 38.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,006 shares of the conglomerate’s stock after selling 5,536 shares during the period. Pitcairn Co.’s holdings in General Electric were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in General Electric by 94.4% during the first quarter. Advisors Asset Management Inc. now owns 10,405 shares of the conglomerate’s stock valued at $1,826,000 after buying an additional 5,054 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of General Electric in the 1st quarter worth $299,000. Caxton Associates LP bought a new position in General Electric in the 1st quarter worth $744,000. Zurich Insurance Group Ltd FI lifted its position in General Electric by 39.4% during the first quarter. Zurich Insurance Group Ltd FI now owns 698,829 shares of the conglomerate’s stock valued at $122,665,000 after purchasing an additional 197,397 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in General Electric by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after purchasing an additional 102 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 1.4 %

NYSE GE opened at $181.15 on Friday. The stock has a 50 day moving average price of $183.22 and a 200-day moving average price of $171.12. General Electric has a one year low of $94.54 and a one year high of $194.80. The company has a market capitalization of $196.06 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.76 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 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. As a group, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GE shares. Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.