General Electric (NYSE:GE) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its position in shares of General Electric (NYSE:GE) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,665,896 shares of the conglomerate’s stock after selling 7,734,585 shares during the period. General Electric makes up 0.7% of Price T Rowe Associates Inc. MD’s portfolio, making the stock its 24th biggest position. Price T Rowe Associates Inc. MD owned 4.29% of General Electric worth $4,461,261,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of General Electric by 5.7% during the 1st quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after buying an additional 3,463,502 shares during the last quarter. TCI Fund Management Ltd. bought a new stake in shares of General Electric during the 1st quarter worth about $2,496,379,000. Geode Capital Management LLC increased its position in shares of General Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 18,952,831 shares of the conglomerate’s stock valued at $1,584,662,000 after purchasing an additional 345,740 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in General Electric by 122,242.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of General Electric by 13.8% during the fourth quarter. Morgan Stanley now owns 8,765,177 shares of the conglomerate’s stock worth $734,434,000 after purchasing an additional 1,065,856 shares during the period. Institutional investors and hedge funds own 74.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GE shares. Jefferies Financial Group boosted their target price on General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Royal Bank of Canada raised their target price on shares of General Electric from $120.00 to $130.00 in a research note on Wednesday, July 26th. Oppenheimer downgraded General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Wolfe Research boosted their price objective on General Electric from $107.00 to $125.00 in a research report on Wednesday, June 28th. Finally, Argus raised their target price on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Insiders Place Their Bets

In other news, SVP Michael J. Holston sold 112,614 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the sale, the senior vice president now directly owns 57,923 shares of the company’s stock, valued at approximately $6,672,729.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder General Electric Pension Trust bought 35,160 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the acquisition, the insider now owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael J. Holston sold 112,614 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the sale, the senior vice president now directly owns 57,923 shares in the company, valued at approximately $6,672,729.60. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

General Electric Stock Down 0.1 %

Shares of GE stock traded down $0.07 on Friday, hitting $111.72. 2,531,102 shares of the stock were exchanged, compared to its average volume of 3,471,575. The firm has a market capitalization of $121.59 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 6.89 and a beta of 1.28. The business has a 50-day moving average of $112.32 and a 200 day moving average of $102.83. The company has a current ratio of 1.25, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. General Electric has a fifty-two week low of $48.06 and a fifty-two week high of $117.96.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The company had revenue of $15.85 billion during the quarter, compared to analysts’ expectations of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. Equities analysts anticipate that General Electric will post 2.32 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Monday, September 25th. General Electric’s dividend payout ratio is currently 3.80%.

About General Electric

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.