General Electric (NYSE:GE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of General Electric (NYSE:GE - Free Report) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 822,636 shares of the conglomerate's stock after selling 3,384 shares during the quarter. PNC Financial Services Group Inc. owned 0.08% of General Electric worth $155,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GE. Bessemer Group Inc. lifted its holdings in shares of General Electric by 69.2% during the first quarter. Bessemer Group Inc. now owns 55,468 shares of the conglomerate's stock worth $9,737,000 after purchasing an additional 22,689 shares during the period. Vident Advisory LLC lifted its holdings in General Electric by 163.0% in the first quarter. Vident Advisory LLC now owns 55,453 shares of the conglomerate's stock valued at $9,734,000 after acquiring an additional 34,370 shares during the period. CreativeOne Wealth LLC lifted its holdings in General Electric by 80.5% in the first quarter. CreativeOne Wealth LLC now owns 7,176 shares of the conglomerate's stock valued at $1,260,000 after acquiring an additional 3,201 shares during the period. EP Wealth Advisors LLC lifted its holdings in General Electric by 11.9% in the first quarter. EP Wealth Advisors LLC now owns 19,130 shares of the conglomerate's stock valued at $3,358,000 after acquiring an additional 2,036 shares during the period. Finally, Axxcess Wealth Management LLC lifted its holdings in General Electric by 33.8% in the first quarter. Axxcess Wealth Management LLC now owns 10,194 shares of the conglomerate's stock valued at $1,789,000 after acquiring an additional 2,575 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

GE opened at $177.56 on Wednesday. The stock's 50-day moving average price is $182.75 and its 200 day moving average price is $170.91. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. 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 $192.17 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last posted its 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the company earned $0.82 EPS. General Electric's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on GE. 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 report on Wednesday, October 23rd. StockNews.com cut General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. 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 report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric has an average rating of "Moderate Buy" and a consensus price target of $200.93.

About General Electric

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.

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