Heritage Trust Co Sells 2,872 Shares of General Electric (NYSE:GE)

Heritage Trust Co lessened its stake in shares of General Electric (NYSE:GE) by 20.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,207 shares of the conglomerate’s stock after selling 2,872 shares during the period. Heritage Trust Co’s holdings in General Electric were worth $89,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Novare Capital Management LLC grew its holdings in shares of General Electric by 1.4% during the fourth quarter. Novare Capital Management LLC now owns 56,128 shares of the conglomerate’s stock valued at $626,000 after buying an additional 783 shares during the last quarter. Roundview Capital LLC grew its position in shares of General Electric by 3.8% in the 4th quarter. Roundview Capital LLC now owns 22,166 shares of the conglomerate’s stock valued at $247,000 after buying an additional 810 shares during the last quarter. Greatmark Investment Partners Inc. grew its position in shares of General Electric by 1.9% in the 4th quarter. Greatmark Investment Partners Inc. now owns 44,711 shares of the conglomerate’s stock valued at $499,000 after buying an additional 839 shares during the last quarter. BerganKDV Wealth Management LLC grew its position in shares of General Electric by 5.9% in the 4th quarter. BerganKDV Wealth Management LLC now owns 15,420 shares of the conglomerate’s stock valued at $172,000 after buying an additional 862 shares during the last quarter. Finally, BBVA USA Bancshares Inc. grew its position in shares of General Electric by 3.8% in the 4th quarter. BBVA USA Bancshares Inc. now owns 23,986 shares of the conglomerate’s stock valued at $268,000 after buying an additional 871 shares during the last quarter. 61.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GE traded down $0.07 during midday trading on Friday, hitting $6.41. The company had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. The company has a quick ratio of 1.69, a current ratio of 1.91 and a debt-to-equity ratio of 1.80. General Electric has a twelve month low of $5.48 and a twelve month high of $13.26. The business has a 50-day simple moving average of $6.50 and a two-hundred day simple moving average of $9.84. The firm has a market capitalization of $56.68 billion, a price-to-earnings ratio of -19.42, a price-to-earnings-growth ratio of 34.91 and a beta of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). General Electric had a negative net margin of 2.39% and a positive return on equity of 13.66%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.34 billion. During the same quarter last year, the business earned $0.12 EPS. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 0.04 EPS for the current year.

Several research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of General Electric from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Deutsche Bank lowered their price objective on shares of General Electric from $13.50 to $8.40 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Imperial Capital raised their price objective on shares of General Electric from $5.00 to $8.00 in a research report on Monday, March 2nd. Bank of America reissued a “buy” rating and set a $16.00 price objective on shares of General Electric in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $5.00 target price on shares of General Electric in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.49.

About General Electric

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.

Read More: Momentum Indicators

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.