Cahaba Wealth Management Inc. Has $221,000 Stock Holdings in General Electric (NYSE:GE)

Cahaba Wealth Management Inc. reduced its holdings in shares of General Electric (NYSE:GEFree Report) by 17.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,735 shares of the conglomerate’s stock after selling 377 shares during the period. Cahaba Wealth Management Inc.’s holdings in General Electric were worth $221,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of General Electric by 12.5% during the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in General Electric by 10.9% in the third 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. raised its position in General Electric by 159.8% in the second 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. grew its holdings in shares of General Electric by 51,152.3% during the third quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after purchasing an additional 22,507 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of General Electric in the third quarter valued at approximately $1,846,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was 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 in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Down 22.2 %

NYSE GE traded down $38.89 during trading hours on Tuesday, hitting $136.47. 20,465,471 shares of the company’s stock were exchanged, compared to its average volume of 6,302,436. The firm has a market cap of $149.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.35 and a beta of 1.29. The stock has a 50-day simple moving average of $154.32 and a 200 day simple moving average of $130.76. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. General Electric has a 1-year low of $93.47 and a 1-year high of $180.36.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter last year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 4.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GE shares. Wells Fargo & Company lifted their target price on shares of General Electric from $177.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. cut their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays increased their price objective on General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. StockNews.com started coverage on General Electric in a report on Thursday, March 28th. They set a “hold” rating on the stock. Finally, Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

View Our Latest Analysis on General Electric

About General Electric

(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.

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

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