Fiduciary Trust Co. Sells 1,412 Shares of General Electric (NYSE:GE)

Fiduciary Trust Co. trimmed its position in General Electric (NYSE:GEGet Rating) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,824 shares of the conglomerate’s stock after selling 1,412 shares during the period. Fiduciary Trust Co.’s holdings in General Electric were worth $4,140,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GE. Morgan Stanley grew its stake in shares of General Electric by 5.7% in the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after buying an additional 2,238,808 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Electric by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock worth $1,664,776,000 after buying an additional 513,385 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of General Electric by 8.4% during the fourth quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock worth $1,042,334,000 after buying an additional 852,849 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in General Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,682,895 shares of the conglomerate’s stock valued at $536,864,000 after purchasing an additional 117,943 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in General Electric by 6.2% in the fourth quarter. New York State Common Retirement Fund now owns 3,780,632 shares of the conglomerate’s stock valued at $357,156,000 after purchasing an additional 219,321 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

In related news, Director Paula Rosput Reynolds bought 1,200 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 5,563 shares of the company’s stock, valued at $431,966.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Electric Co General sold 72,025,826 shares of General Electric stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the transaction, 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. Over the last quarter, insiders have bought 69,801 shares of company stock valued at $5,207,705. Corporate insiders own 0.70% of the company’s stock.

Several analysts have recently weighed in on GE shares. StockNews.com started coverage on General Electric in a report on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada boosted their price target on General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, March 11th. Wells Fargo & Company dropped their price target on General Electric from $105.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 26th. Morgan Stanley lowered their target price on General Electric to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 17th. Finally, Barclays lowered their price target on General Electric from $100.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $115.67.

NYSE GE opened at $74.52 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.71. General Electric has a twelve month low of $71.14 and a twelve month high of $116.17. The business has a 50-day moving average price of $85.34 and a 200-day moving average price of $92.91. The firm has a market cap of $82.02 billion, a price-to-earnings ratio of -16.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.02.

General Electric (NYSE:GEGet Rating) last posted its earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $17.04 billion during the quarter, compared to analyst estimates of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. General Electric’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Research analysts expect that General Electric will post 2.83 EPS for the current fiscal year.

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.

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

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