Field & Main Bank Reduces Stock Position in General Electric (NYSE:GE)

Field & Main Bank lessened its position in shares of General Electric (NYSE:GE) by 86.9% during the 3rd quarter, Holdings Channel reports. The firm owned 3,465 shares of the conglomerate’s stock after selling 23,065 shares during the quarter. Field & Main Bank’s holdings in General Electric were worth $357,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GE. West Branch Capital LLC purchased a new stake in General Electric during the 2nd quarter valued at about $33,000. Financial Insights Inc. purchased a new stake in General Electric during the 2nd quarter valued at about $38,000. Truvestments Capital LLC grew its stake in General Electric by 112.2% during the 2nd quarter. Truvestments Capital LLC now owns 2,837 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 1,500 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the 2nd quarter valued at about $42,000. Finally, Evolution Wealth Advisors LLC grew its stake in General Electric by 53.9% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 3,714 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 1,300 shares during the last quarter.

In related news, Director Leslie Seidman purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was purchased at an average price of $100.59 per share, with a total value of $100,590.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 2,051 shares of company stock valued at $210,673 in the last three months. Insiders own 0.71% of the company’s stock.

Shares of General Electric stock traded up $0.15 during mid-day trading on Thursday, reaching $102.23. 5,569,121 shares of the stock traded hands, compared to its average volume of 8,669,891. The business has a 50-day moving average of $104.27 and a 200 day moving average of $104.77. General Electric has a fifty-two week low of $79.68 and a fifty-two week high of $116.17. The stock has a market capitalization of $112.26 billion, a PE ratio of -196.60, a PEG ratio of 9.35 and a beta of 1.03. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 1.47.

General Electric (NYSE:GE) last announced its earnings results on Monday, October 25th. The conglomerate reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. General Electric had a positive return on equity of 5.88% and a negative net margin of 0.05%. The business had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $19.17 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 2.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 25th. Shareholders of record on Monday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 24th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. General Electric’s payout ratio is currently -61.54%.

A number of brokerages have recently commented on GE. Cowen upped their target price on General Electric from $108.00 to $126.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 10th. Morgan Stanley began coverage on General Electric in a research note on Tuesday. They issued an “overweight” rating and a $125.00 target price on the stock. Citigroup restated a “buy” rating and issued a $136.00 target price on shares of General Electric in a research note on Wednesday, August 11th. TheStreet upgraded General Electric from a “d+” rating to a “c” rating in a research note on Wednesday, October 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $131.00 in a research note on Tuesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $122.18.

General Electric Company Profile

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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