General Electric (NYSE:GE) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its position in shares of General Electric (NYSE:GE – Get Rating) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 143,002 shares of the conglomerate’s stock after selling 20,989 shares during the quarter. First Trust Advisors LP’s holdings in General Electric were worth $11,982,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in General Electric by 3.2% in the third quarter. Macquarie Group Ltd. now owns 48,555 shares of the conglomerate’s stock valued at $3,006,000 after purchasing an additional 1,493 shares during the last quarter. Foundations Investment Advisors LLC grew its position in General Electric by 3.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,262 shares of the conglomerate’s stock valued at $609,000 after acquiring an additional 230 shares during the period. V Wealth Advisors LLC purchased a new stake in shares of General Electric in the fourth quarter worth about $204,000. Envestnet Asset Management Inc. boosted its position in shares of General Electric by 16.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 512,099 shares of the conglomerate’s stock worth $42,908,000 after buying an additional 72,120 shares during the period. Finally, Hanson & Doremus Investment Management boosted its position in shares of General Electric by 42.1% in the fourth quarter. Hanson & Doremus Investment Management now owns 6,712 shares of the conglomerate’s stock worth $562,000 after buying an additional 1,989 shares during the period. 70.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on General Electric from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. JPMorgan Chase & Co. increased their price target on General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. TheStreet raised General Electric from a “c” rating to a “b-” rating in a report on Friday, February 10th. Jefferies Financial Group raised General Electric from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Thursday, April 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $97.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 12th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.20.

General Electric Stock Performance

Shares of GE stock opened at $101.70 on Wednesday. General Electric has a 12-month low of $46.55 and a 12-month high of $105.94. The firm has a market capitalization of $110.75 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 7.34 and a beta of 1.27. The business has a 50 day simple moving average of $97.05 and a 200 day simple moving average of $87.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.92.

General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.14. General Electric had a return on equity of 9.45% and a net margin of 11.85%. The business had revenue of $14.49 billion during the quarter, compared to analyst estimates of $13.46 billion. During the same period in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 2.03 EPS for the current year.

Insider Buying and Selling

In other General Electric news, SVP Scott Strazik sold 173,873 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the completion of the transaction, the senior vice president now directly owns 56,049 shares of the company’s stock, valued at approximately $5,580,238.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Thomas S. Timko sold 7,254 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $100.82, for a total transaction of $731,348.28. Following the completion of the sale, the vice president now directly owns 20,953 shares of the company’s stock, valued at approximately $2,112,481.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott Strazik sold 173,873 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $99.56, for a total value of $17,310,795.88. Following the sale, the senior vice president now directly owns 56,049 shares of the company’s stock, valued at $5,580,238.44. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

About General Electric

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.