Quintet Private Bank Europe S.A. Sells 3,430 Shares of General Electric (NYSE:GE)

Quintet Private Bank Europe S.A. cut its position in General Electric (NYSE:GE) by 77.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 993 shares of the conglomerate’s stock after selling 3,430 shares during the period. Quintet Private Bank Europe S.A.’s holdings in General Electric were worth $127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC raised its stake in shares of General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after buying an additional 6,419 shares during the period. Fifth Third Bancorp raised its stake in shares of General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after purchasing an additional 28,985 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of General Electric by 10.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after purchasing an additional 10,722 shares during the period. USA Financial Formulas raised its stake in shares of General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares during the period. Finally, Grandfield & Dodd LLC raised its stake in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares during the period. 74.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. Argus boosted their price objective on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. UBS Group boosted their price objective on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Barclays reduced their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Trading Up 0.1 %

GE stock traded up $0.19 during trading on Friday, hitting $155.88. 6,247,401 shares of the company traded hands, compared to its average volume of 5,314,039. The company has a 50-day moving average of $160.84 and a 200-day moving average of $148.47. The firm has a market capitalization of $170.63 billion, a PE ratio of 51.11, a P/E/G ratio of 1.66 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. General Electric has a 1 year low of $82.11 and a 1 year high of $170.80.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. Analysts predict that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. General Electric’s dividend payout ratio is presently 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.