General Electric (NYSE:GE) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its holdings in shares of General Electric (NYSE:GE) by 20.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,610 shares of the conglomerate’s stock after selling 1,403 shares during the period. First Horizon Advisors Inc.’s holdings in General Electric were worth $1,058,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GE. Catalyst Capital Advisors LLC raised its position in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares during the period. Mackenzie Financial Corp raised its holdings in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after buying an additional 57,372 shares during the period. Marietta Investment Partners LLC purchased a new position in General Electric in the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC grew its position in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP purchased a new stake in shares of General Electric during the second quarter valued at approximately $34,973,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

GE has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

Shares of NYSE GE opened at $178.87 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $183.17 and its two-hundred day moving average price is $171.01. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80. The stock has a market capitalization of $193.59 billion, a P/E ratio of 31.44, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. As a group, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

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

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.