Huntington National Bank Has $91.50 Million Stock Position in General Electric (NYSE:GE)

Huntington National Bank increased its position in shares of General Electric (NYSE:GE - Free Report) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,225 shares of the conglomerate's stock after buying an additional 33,137 shares during the quarter. Huntington National Bank's holdings in General Electric were worth $91,504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its stake 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 acquiring an additional 146 shares during the period. Mackenzie Financial Corp grew its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate's stock valued at $96,016,000 after purchasing an additional 57,372 shares during the period. Marietta Investment Partners LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $1,569,000. GAMMA Investing LLC lifted its position in shares of General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate's stock worth $2,702,000 after buying an additional 3,442 shares during the period. Finally, Senator Investment Group LP acquired a new stake in General Electric in the 2nd quarter valued at $34,973,000. 74.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the business's 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 completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GE shares. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. StockNews.com downgraded shares of General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has a consensus rating of "Moderate Buy" and an average target price of $200.93.

General Electric Trading Down 2.9 %

Shares of NYSE:GE traded down $5.36 during trading on Thursday, hitting $178.20. 2,226,310 shares of the company's stock were exchanged, compared to its average volume of 6,234,993. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $192.86 billion, a P/E ratio of 32.06, a PEG ratio of 1.80 and a beta of 1.19. The firm has a 50-day moving average price of $181.69 and a two-hundred day moving average price of $170.43. General Electric has a 1-year low of $92.58 and a 1-year high of $194.80.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. Equities analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

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

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.