McGlone Suttner Wealth Management Inc. Acquires New Position in General Electric (NYSE:GE)

McGlone Suttner Wealth Management Inc. acquired a new stake in shares of General Electric (NYSE:GEFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 515 shares of the conglomerate’s stock, valued at approximately $66,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after purchasing an additional 10,722 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in General Electric by 159.8% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,455,000 shares of the conglomerate’s stock valued at $159,832,000 after purchasing an additional 895,000 shares during the last quarter. Hoey Investments Inc. boosted its holdings in General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock valued at $2,493,000 after purchasing an additional 22,507 shares during the last quarter. Qsemble Capital Management LP acquired a new position in General Electric in the 3rd quarter valued at about $1,846,000. Finally, Cambridge Financial Group Inc. acquired a new position in General Electric in the 3rd quarter valued at about $6,285,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of General Electric from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $166.00 to $180.00 in a report on Friday, March 8th. Citigroup upped their price objective on shares of General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Jefferies Financial Group upped their price objective on shares of General Electric from $180.00 to $195.00 in a report on Monday, March 11th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.54.

View Our Latest Analysis on GE

General Electric Trading Down 2.5 %

Shares of NYSE:GE opened at $175.53 on Friday. General Electric has a 52 week low of $93.47 and a 52 week high of $180.36. The company’s 50 day moving average is $152.52 and its two-hundred day moving average is $129.69. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company has a market cap of $191.90 billion, a PE ratio of 20.97, a P/E/G ratio of 2.41 and a beta of 1.28.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the prior year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities analysts predict that General Electric will post 4.57 earnings per share for the current fiscal year.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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