Enterprise Financial Services Corp Cuts Position in General Electric (NYSE:GE)

Enterprise Financial Services Corp cut its stake in General Electric (NYSE:GEGet Rating) by 44.5% in the 4th quarter, Holdings Channel reports. The fund owned 5,285 shares of the conglomerate’s stock after selling 4,233 shares during the quarter. Enterprise Financial Services Corp’s holdings in General Electric were worth $500,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GE. Missouri Trust & Investment Co purchased a new stake in General Electric during the fourth quarter valued at about $27,000. Benjamin Edwards Inc. boosted its position in General Electric by 325.0% during the fourth quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock valued at $27,000 after buying an additional 221 shares during the period. Covestor Ltd purchased a new stake in General Electric during the fourth quarter valued at about $31,000. Bell Investment Advisors Inc purchased a new stake in General Electric during the third quarter valued at about $32,000. Finally, FSB Premier Wealth Management Inc. purchased a new stake in General Electric during the fourth quarter valued at about $32,000. Institutional investors own 67.37% of the company’s stock.

GE traded down $0.99 during midday trading on Wednesday, reaching $73.53. The company’s stock had a trading volume of 98,613 shares, compared to its average volume of 6,922,255. The firm has a market capitalization of $80.93 billion, a price-to-earnings ratio of -16.27, a PEG ratio of 3.82 and a beta of 1.02. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. General Electric has a 1 year low of $71.14 and a 1 year high of $116.17. The stock’s 50-day moving average is $85.34 and its 200-day moving average is $92.91.

General Electric (NYSE:GEGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The firm had revenue of $17.04 billion for the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 2.83 earnings per share for the current fiscal year.

In related news, Director Paula Rosput Reynolds bought 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were bought at an average price of $77.65 per share, for a total transaction of $93,180.00. Following the completion of the acquisition, the director now owns 5,563 shares of the company’s stock, valued at approximately $431,966.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Electric Co General sold 72,025,826 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the completion of the sale, the insider now owns 3,931,363 shares in the company, valued at approximately $135,435,455.35. The disclosure for this sale can be found here. In the last quarter, insiders have bought 69,801 shares of company stock worth $5,207,705. Corporate insiders own 0.70% of the company’s stock.

Several analysts have issued reports on GE shares. StockNews.com started coverage on shares of General Electric in a research report on Thursday, March 31st. They set a “hold” rating for the company. Barclays lowered their price objective on shares of General Electric from $100.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday. Credit Suisse Group lowered their price objective on shares of General Electric from $113.00 to $102.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $118.00 to $107.00 in a research note on Wednesday, April 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $124.00 price objective on shares of General Electric in a research note on Wednesday, January 26th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, General Electric presently has a consensus rating of “Buy” and an average target price of $115.67.

About General Electric (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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.

Further Reading

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

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