Brown Advisory Inc. Lowers Stock Holdings in General Electric (NYSE:GE)

Posted by Defense World Staff on Jun 11th, 2023

Brown Advisory Inc. trimmed its position in General Electric (NYSE:GE – Get Rating) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,673 shares of the conglomerate’s stock after selling 483 shares during the quarter. Brown Advisory Inc.’s holdings in General Electric were worth $11,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TFO TDC LLC purchased a new stake in shares of General Electric in the fourth quarter worth about $31,000. Addenda Capital Inc. purchased a new stake in shares of General Electric in the fourth quarter worth about $26,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares in the last quarter. MADDEN SECURITIES Corp purchased a new stake in shares of General Electric in the fourth quarter worth about $28,000. Finally, RFP Financial Group LLC purchased a new stake in General Electric in the fourth quarter valued at approximately $34,000. 70.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Scott Strazik sold 173,873 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the transaction, the senior vice president now directly owns 56,049 shares of the company’s stock, valued at approximately $5,580,238.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Electric news, VP Thomas S. Timko sold 7,254 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.82, for a total transaction of $731,348.28. Following the transaction, the vice president now directly owns 20,953 shares of the company’s stock, valued at approximately $2,112,481.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott Strazik sold 173,873 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $99.56, for a total transaction of $17,310,795.88. Following the transaction, the senior vice president now directly owns 56,049 shares in the company, valued at $5,580,238.44. The disclosure for this sale can be found here. Insiders have sold a total of 239,419 shares of company stock valued at $24,144,151 over the last three months. 0.67% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 12th. Barclays raised their target price on shares of General Electric from $115.00 to $125.00 in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of General Electric from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, April 14th. JPMorgan Chase & Co. raised their target price on shares of General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Wednesday, April 26th. Finally, Bank of America raised their target price on shares of General Electric from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $103.87.

General Electric Stock Up 0.2 %

Shares of NYSE GE opened at $106.30 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. General Electric has a 52 week low of $46.55 and a 52 week high of $107.33. The firm’s fifty day moving average is $100.12 and its 200 day moving average is $89.55. The company has a market cap of $115.76 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 7.49 and a beta of 1.27.

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

About General Electric

(Get Rating)

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.