Sanctuary Advisors LLC Has $27.02 Million Holdings in General Electric (NYSE:GE)

Sanctuary Advisors LLC grew its position in shares of General Electric (NYSE:GE) by 40.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,131 shares of the conglomerate’s stock after buying an additional 43,318 shares during the quarter. Sanctuary Advisors LLC’s holdings in General Electric were worth $27,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. State Street Corp lifted its stake in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Electric by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after purchasing an additional 156,272 shares in the last quarter. Newport Trust Company LLC acquired a new stake in shares of General Electric in the 2nd quarter valued at $2,613,332,000. Legal & General Group Plc boosted its holdings in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Finally, Jennison Associates LLC increased its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $164.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $178.37 billion, a P/E ratio of 28.96, a PEG ratio of 1.66 and a beta of 1.17. General Electric has a twelve month low of $95.92 and a twelve month high of $194.80. The company’s 50-day simple moving average is $180.72 and its 200 day simple moving average is $172.42.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on GE shares. Royal Bank of Canada lowered their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.93.

General Electric Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.