Mill Creek Capital Advisors LLC Lowers Stock Position in General Electric (NYSE:GE)

Mill Creek Capital Advisors LLC lessened its holdings in General Electric (NYSE:GE) by 45.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,594 shares of the conglomerate’s stock after selling 2,202 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in General Electric were worth $489,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GE. Davis R M Inc. lifted its position in shares of General Electric by 18.8% in the 1st quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock worth $649,000 after purchasing an additional 586 shares during the period. Trustmark National Bank Trust Department lifted its position in shares of General Electric by 10.7% in the 1st quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock worth $603,000 after purchasing an additional 332 shares during the period. Bahl & Gaynor Inc. lifted its position in shares of General Electric by 4.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock worth $998,000 after purchasing an additional 251 shares during the period. UniSuper Management Pty Ltd lifted its position in General Electric by 141.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,650 shares of the conglomerate’s stock valued at $3,625,000 after acquiring an additional 12,099 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in General Electric during the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Down 0.8 %

NYSE:GE opened at $176.93 on Monday. The firm has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a PEG ratio of 1.75 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’s fifty day moving average price is $182.29 and its 200-day moving average price is $170.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, equities research analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

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

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Company Profile

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.