General Electric (NYSE:GE) Shares Bought by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lifted its stake in shares of General Electric (NYSE:GE) by 21.2% in the 1st quarter, Holdings Channel reports. The firm owned 20,652 shares of the conglomerate’s stock after buying an additional 3,614 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in General Electric were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GE. Vanguard Group Inc grew its holdings in shares of General Electric by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 635,893,221 shares of the conglomerate’s stock worth $7,179,235,000 after purchasing an additional 6,167,111 shares during the period. Moody National Bank Trust Division grew its holdings in shares of General Electric by 0.6% during the 4th quarter. Moody National Bank Trust Division now owns 760,047 shares of the conglomerate’s stock worth $5,754,000 after purchasing an additional 4,340 shares during the period. Curbstone Financial Management Corp grew its holdings in shares of General Electric by 20.5% during the 4th quarter. Curbstone Financial Management Corp now owns 78,728 shares of the conglomerate’s stock worth $1,071,000 after purchasing an additional 13,406 shares during the period. Grassi Investment Management grew its holdings in shares of General Electric by 169.3% during the 4th quarter. Grassi Investment Management now owns 505,500 shares of the conglomerate’s stock worth $3,827,000 after purchasing an additional 317,800 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of General Electric by 5.0% during the 4th quarter. State of Alaska Department of Revenue now owns 1,198,925 shares of the conglomerate’s stock worth $9,074,000 after purchasing an additional 57,593 shares during the period. Institutional investors own 57.91% of the company’s stock.

In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

A number of analysts have recently issued reports on the company. William Blair reiterated a “buy” rating on shares of General Electric in a report on Thursday. Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Monday, May 20th. Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Cowen reissued a “hold” rating and set a $8.00 price target on shares of General Electric in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered General Electric from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $6.00 to $5.00 in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average target price of $12.11.

General Electric stock traded down $0.09 during midday trading on Friday, hitting $10.23. 13,441,363 shares of the company were exchanged, compared to its average volume of 47,475,368. The firm has a market capitalization of $89.65 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $14.44.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. General Electric’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. On average, analysts forecast that General Electric will post 0.61 earnings per share for the current fiscal year.

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General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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