Sanctuary Advisors LLC Increases Stock Holdings in General Electric (NYSE:GE)

Sanctuary Advisors LLC increased its stake in shares of General Electric (NYSE:GE - Free Report) by 40.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,131 shares of the conglomerate's stock after acquiring an additional 43,318 shares during the period. Sanctuary Advisors LLC's holdings in General Electric were worth $27,015,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GE. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in shares of General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the 3rd quarter valued at $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric in the third quarter valued at about $28,000. Institutional investors own 74.77% of the company's stock.

General Electric Trading Up 0.6 %

Shares of GE traded up $1.07 during trading hours on Friday, hitting $165.90. 2,190,471 shares of the stock were exchanged, compared to its average volume of 6,119,108. General Electric has a fifty-two week low of $95.92 and a fifty-two week high of $194.80. The business has a 50-day moving average of $180.72 and a 200-day moving average of $172.42. The firm has a market capitalization of $179.55 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 business's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. On average, research analysts expect that General Electric will post 4.24 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company's stock in a transaction 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 transaction, the senior vice president now 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GE has been the subject of a number of recent analyst reports. 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of General Electric from $210.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $201.93.

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.