General Electric (NYSE:GE) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co reduced its holdings in General Electric (NYSE:GE) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,149 shares of the conglomerate’s stock after selling 178 shares during the quarter. WASHINGTON TRUST Co’s holdings in General Electric were worth $657,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. O Shaughnessy Asset Management LLC grew its stake in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 10,722 shares during the last quarter. D1 Capital Partners L.P. raised its stake in General Electric by 159.8% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,455,000 shares of the conglomerate’s stock valued at $159,832,000 after purchasing an additional 895,000 shares during the last quarter. Hoey Investments Inc. increased its stake in shares of General Electric by 51,152.3% during the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock valued at $2,493,000 after acquiring an additional 22,507 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in General Electric during the 3rd quarter worth approximately $1,846,000. Finally, Cambridge Financial Group Inc. purchased a new position in General Electric in the 3rd quarter worth approximately $6,285,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Down 2.8 %

Shares of General Electric stock traded down $5.04 during midday trading on Thursday, hitting $175.08. The company’s stock had a trading volume of 5,825,940 shares, compared to its average volume of 6,010,961. The firm has a market capitalization of $191.41 billion, a P/E ratio of 20.91, a PEG ratio of 2.30 and a beta of 1.28. The stock has a 50-day simple moving average of $150.52 and a 200-day simple moving average of $129.01. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. General Electric has a 1-year low of $93.47 and a 1-year high of $180.36.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. General Electric’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Royal Bank of Canada increased their target price on General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upgraded General Electric from a “neutral” rating to an “overweight” rating and increased their target price for the company from $166.00 to $180.00 in a research note on Friday, March 8th. Citigroup increased their target price on General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, StockNews.com initiated coverage on General Electric in a research note on Thursday. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.54.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.