Univest Corp of Pennsylvania reduced its position in General Electric Company (NYSE:GE) by 17.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 26,611 shares of the company’s stock after selling 5,518 shares during the period. Univest Corp of Pennsylvania’s holdings in General Electric Company were worth $788,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of General Electric Company by 0.6% in the second quarter. Vanguard Group Inc. now owns 575,093,558 shares of the company’s stock worth $18,103,945,000 after buying an additional 3,276,096 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of General Electric Company by 2.3% in the second quarter. BlackRock Fund Advisors now owns 108,746,040 shares of the company’s stock worth $3,423,325,000 after buying an additional 2,477,059 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of General Electric Company by 0.3% in the second quarter. BlackRock Group LTD now owns 75,537,924 shares of the company’s stock worth $2,377,934,000 after buying an additional 262,526 shares in the last quarter. Trian Fund Management L.P. boosted its stake in shares of General Electric Company by 0.7% in the second quarter. Trian Fund Management L.P. now owns 74,766,576 shares of the company’s stock worth $2,353,652,000 after buying an additional 521,321 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of General Electric Company by 4.6% in the second quarter. Legal & General Group Plc now owns 43,928,772 shares of the company’s stock worth $1,381,942,000 after buying an additional 1,918,773 shares in the last quarter. 53.36% of the stock is currently owned by hedge funds and other institutional investors.

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

General Electric Company (NYSE:GE) traded down 0.10% during midday trading on Friday, hitting $31.36. The stock had a trading volume of 24,323,767 shares. General Electric Company has a 52-week low of $27.10 and a 52-week high of $33.00. The firm has a market capitalization of $277.42 billion, a P/E ratio of 26.96 and a beta of 1.20. The firm has a 50-day moving average of $31.56 and a 200 day moving average of $30.77.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Tuesday, December 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, December 22nd. This is a positive change from General Electric Company’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. General Electric Company’s payout ratio is presently 83.48%.

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GE has been the topic of a number of analyst reports. Vetr cut General Electric Company from a “strong-buy” rating to a “buy” rating and set a $32.72 price target on the stock. in a research report on Monday, October 31st. Sanford C. Bernstein set a $33.00 price target on General Electric Company and gave the stock a “neutral” rating in a research report on Monday, October 24th. RBC Capital Markets set a $37.00 price target on General Electric Company and gave the stock a “buy” rating in a research report on Thursday, December 15th. Bank of America reissued a “buy” rating and issued a $37.00 price target on shares of General Electric Company in a research report on Thursday, October 6th. Finally, J P Morgan Chase & Co set a $29.00 price target on General Electric Company and gave the stock a “sell” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.33.

In other General Electric Company news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of $29.24 per share, for a total transaction of $1,462,000.00. Following the completion of the transaction, the chairman now owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

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