Skandinaviska Enskilda Banken AB publ Reduces Position in General Electric (NYSE:GE)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of General Electric (NYSE:GE – Get Rating) by 28.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,830 shares of the conglomerate’s stock after selling 4,290 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in General Electric were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addenda Capital Inc. bought a new stake in shares of General Electric during the fourth quarter valued at approximately $26,000. MADDEN SECURITIES Corp bought a new stake in shares of General Electric during the fourth quarter valued at approximately $28,000. Standard Family Office LLC bought a new position in General Electric in the third quarter worth approximately $29,000. RE Dickinson Investment Advisors LLC raised its stake in General Electric by 37.5% in the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock worth $30,000 after buying an additional 130 shares in the last quarter. Finally, TFO TDC LLC bought a new position in General Electric in the fourth quarter worth approximately $31,000. Institutional investors own 70.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GE shares. Citigroup boosted their price objective on shares of General Electric from $109.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 26th. Wells Fargo & Company reduced their price objective on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. TheStreet raised shares of General Electric from a “c” rating to a “b-” rating in a research note on Friday, February 10th. Finally, Royal Bank of Canada upped their price target on General Electric from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.20.

Insider Buying and Selling at General Electric

In other General Electric news, VP Thomas S. Timko sold 7,254 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.82, for a total value of $731,348.28. Following the sale, the vice president now directly owns 20,953 shares of the company’s stock, valued at $2,112,481.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other General Electric news, VP Thomas S. Timko sold 7,254 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.82, for a total value of $731,348.28. Following the sale, the vice president now directly owns 20,953 shares of the company’s stock, valued at $2,112,481.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Scott Strazik sold 173,873 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the completion of the transaction, the senior vice president now owns 56,049 shares of the company’s stock, valued at approximately $5,580,238.44. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

General Electric Price Performance

Shares of GE opened at $98.80 on Friday. The firm has a market capitalization of $107.59 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 7.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.92. General Electric has a 1-year low of $46.55 and a 1-year high of $102.95. The company’s fifty day moving average price is $95.09 and its 200-day moving average price is $86.58.

General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.14. The firm had revenue of $14.49 billion for the quarter, compared to analyst estimates of $13.46 billion. General Electric had a net margin of 11.85% and a return on equity of 9.45%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. On average, equities research analysts predict that General Electric will post 2.03 EPS for the current year.

General Electric Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.

See Also

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

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