General Electric (NYSE:GE) Shares Sold by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC cut its position in General Electric (NYSE:GE) by 14.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,133 shares of the conglomerate’s stock after selling 187 shares during the period. Birchcreek Wealth Management LLC’s holdings in General Electric were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its position in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Newport Trust Company LLC purchased a new stake in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Legal & General Group Plc raised its holdings in shares of General Electric by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Down 0.5 %

Shares of NYSE:GE traded down $0.85 on Friday, hitting $177.55. 416,936 shares of the company’s stock were exchanged, compared to its average volume of 6,221,665. The firm’s 50-day moving average is $181.98 and its 200 day moving average is $170.48. The company has a market capitalization of $192.16 billion, a PE ratio of 31.20, a P/E/G ratio of 1.81 and a beta of 1.19. General Electric has a 1-year low of $93.05 and a 1-year high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GE shares. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

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.