Wilmington Savings Fund Society FSB Buys 26,770 Shares of General Electric (NYSE:GE)

Wilmington Savings Fund Society FSB boosted its position in General Electric (NYSE:GE) by 188.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,004 shares of the conglomerate’s stock after purchasing an additional 26,770 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in General Electric were worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of General Electric in the third quarter worth about $28,000. 74.77% of the stock is owned by institutional investors.

Insider Activity at General Electric

In other 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $2,772,409.50. Following the completion of 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 corporate insiders.

General Electric Trading Down 2.3 %

Shares of NYSE GE opened at $164.81 on Friday. The company has a market cap of $178.37 billion, a PE ratio of 28.96, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a 52-week low of $95.92 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm’s 50 day moving average price is $180.72 and its 200-day moving average price is $172.42.

General Electric (NYSE:GE) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. On average, equities research analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GE has been the subject of a number of recent analyst reports. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.93.

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.