General Electric (NYSE:GE) Shares Sold by First Western Trust Bank

First Western Trust Bank reduced its stake in General Electric (NYSE:GE) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,600 shares of the conglomerate’s stock after selling 437 shares during the period. First Western Trust Bank’s holdings in General Electric were worth $1,810,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Aviso Wealth Management boosted its position in General Electric by 96.9% during the 3rd quarter. Aviso Wealth Management now owns 2,825 shares of the conglomerate’s stock valued at $533,000 after purchasing an additional 1,390 shares during the period. LMR Partners LLP lifted its stake in General Electric by 36.3% in the third quarter. LMR Partners LLP now owns 156,238 shares of the conglomerate’s stock valued at $29,463,000 after buying an additional 41,594 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of General Electric by 126.0% during the third quarter. Quest Partners LLC now owns 5,156 shares of the conglomerate’s stock valued at $972,000 after acquiring an additional 2,875 shares during the period. Aljian Capital Management LLC bought a new position in shares of General Electric during the third quarter worth about $764,000. Finally, TrinityPoint Wealth LLC increased its holdings in shares of General Electric by 4.4% in the 3rd quarter. TrinityPoint Wealth LLC now owns 8,733 shares of the conglomerate’s stock worth $1,647,000 after acquiring an additional 367 shares during the period. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have 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. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

Shares of GE opened at $176.93 on Monday. General Electric has a 12-month low of $93.05 and a 12-month high of $194.80. The stock has a market capitalization of $191.49 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. The firm’s 50 day moving average is $182.29 and its 200-day moving average 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 posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

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

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

General Electric 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.