Parcion Private Wealth LLC Invests $227,000 in General Electric (NYSE:GE)

Parcion Private Wealth LLC acquired a new position in shares of General Electric (NYSE:GEFree Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,781 shares of the conglomerate’s stock, valued at approximately $227,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of General Electric by 3.5% in the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock valued at $5,515,327,000 after buying an additional 1,717,793 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp increased its position in shares of General Electric by 4.0% in the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Morgan Stanley increased its position in shares of General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after buying an additional 434,736 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of General Electric during the fourth quarter worth approximately $635,274,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on GE shares. JPMorgan Chase & Co. dropped their price target on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research report on Tuesday. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Royal Bank of Canada upped their target price on General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Barclays upped their target price on General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Wells Fargo & Company upped their target price on General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

View Our Latest Stock Analysis on General Electric

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on 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 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 can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

General Electric Price Performance

GE stock opened at $136.65 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The firm has a market capitalization of $149.40 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.35 and a beta of 1.29. The business’s 50-day moving average is $154.45 and its two-hundred day moving average is $130.91. 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 released 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 return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts anticipate that General Electric will post 4.57 earnings per share for the current fiscal year.

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.

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

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