Monarch Capital Management Inc. cut its stake in shares of General Electric Co. (NYSE:GE) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,310 shares of the company’s stock after selling 10,336 shares during the period. General Electric makes up approximately 2.0% of Monarch Capital Management Inc.’s holdings, making the stock its 18th largest position. Monarch Capital Management Inc.’s holdings in General Electric were worth $5,311,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. First Pacific Advisors LLC increased its position in General Electric by 2.4% in the second quarter. First Pacific Advisors LLC now owns 10,649,460 shares of the company’s stock valued at $335,245,000 after buying an additional 253,960 shares during the last quarter. Rockefeller Financial Services Inc. increased its position in General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock valued at $10,019,000 after buying an additional 20,893 shares during the last quarter. RS Investment Management Co. LLC increased its position in General Electric by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 1,090,981 shares of the company’s stock valued at $34,344,000 after buying an additional 2,955 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in General Electric by 3.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 8,689,301 shares of the company’s stock valued at $257,376,000 after buying an additional 284,348 shares during the last quarter. Finally, MSI Financial Services Inc increased its position in General Electric by 5.1% in the second quarter. MSI Financial Services Inc now owns 697,010 shares of the company’s stock valued at $21,942,000 after buying an additional 33,634 shares during the last quarter. 53.50% of the stock is owned by institutional investors.

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

General Electric Co. (NYSE:GE) traded down 0.64% during mid-day trading on Tuesday, hitting $31.05. The company had a trading volume of 26,835,028 shares. General Electric Co. has a 1-year low of $27.10 and a 1-year high of $33.00. The stock has a 50 day moving average price of $29.59 and a 200-day moving average price of $30.44. The stock has a market capitalization of $274.68 billion, a PE ratio of 26.70 and a beta of 1.20.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 21st. The company reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. The business had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.64 billion. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. On average, analysts forecast that General Electric Co. will post $1.49 earnings per share for the current year.

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Several equities analysts recently commented on GE shares. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.83 price objective on the stock in a research note on Monday, September 19th. Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, September 13th. William Blair set a $38.00 target price on General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th. Stifel Nicolaus set a $34.00 target price on General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Bank of America Corp. restated a “buy” rating and set a $37.00 target price on shares of General Electric in a research report on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.56.

In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were acquired at an average cost of $29.24 per share, for a total transaction of $1,462,000.00. Following the purchase, the chairman now directly owns 2,248,688 shares of the company’s stock, valued at $65,751,637.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

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