Mitchell Sinkler & Starr PA reduced its position in shares of General Electric (NYSE:GE) by 9.9% in the 1st quarter, Holdings Channel reports. The firm owned 45,463 shares of the conglomerate’s stock after selling 5,000 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in General Electric were worth $454,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Beacon Investment Advisory Services Inc. increased its stake in General Electric by 1.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock worth $447,000 after purchasing an additional 1,013 shares in the last quarter. BigSur Wealth Management LLC increased its stake in General Electric by 3.4% during the 4th quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 1,048 shares in the last quarter. Cetera Investment Advisers increased its stake in General Electric by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock worth $818,000 after purchasing an additional 1,054 shares in the last quarter. Ford Financial Group Inc. increased its stake in General Electric by 7.8% during the 4th quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock worth $122,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Condor Capital Management increased its stake in General Electric by 3.5% during the 4th quarter. Condor Capital Management now owns 34,901 shares of the conglomerate’s stock worth $264,000 after purchasing an additional 1,173 shares in the last quarter. 57.91% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. downgraded General Electric from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $6.00 to $5.00 in a research report on Monday, April 8th. Cowen reaffirmed a “hold” rating and set a $8.00 price target on shares of General Electric in a research report on Wednesday, May 1st. Royal Bank of Canada set a $12.00 price target on General Electric and gave the stock a “buy” rating in a research report on Tuesday, March 12th. Finally, Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and a consensus price target of $12.11.
NYSE:GE opened at $10.28 on Thursday. The company has a market cap of $88.25 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.30 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a twelve month low of $6.66 and a twelve month high of $14.44.
General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to the consensus estimate of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, sell-side analysts forecast that General Electric will post 0.61 earnings per share for the current fiscal year.
In other news, Director Edward P. Garden sold 1,289,538 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward P. Garden sold 3,370,314 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.
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General Electric Company Profile
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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