Chevy Chase Trust Holdings LLC Has $111.06 Million Holdings in General Electric (NYSE:GE)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 588,917 shares of the conglomerate’s stock after selling 16,956 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of General Electric worth $111,058,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Studio Investment Management LLC grew its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the 3rd quarter valued at about $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction 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 approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

General Electric Stock Down 0.1 %

GE stock opened at $182.00 on Monday. The stock has a market cap of $196.98 billion, a P/E ratio of 32.01, a P/E/G ratio of 1.79 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $183.01 and its two-hundred day simple moving average is $171.80. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80.

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

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

About General Electric

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.