Wesbanco Bank Inc. Sells 10,969 Shares of General Electric (NYSE:GE)

Wesbanco Bank Inc. lessened its holdings in General Electric (NYSE:GE) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,966 shares of the conglomerate’s stock after selling 10,969 shares during the period. Wesbanco Bank Inc.’s holdings in General Electric were worth $8,334,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its position in General Electric by 6.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 159,491 shares of the conglomerate’s stock valued at $26,602,000 after acquiring an additional 9,215 shares during the last quarter. SG Americas Securities LLC increased its position in General Electric by 616.6% during the fourth quarter. SG Americas Securities LLC now owns 445,850 shares of the conglomerate’s stock valued at $74,363,000 after acquiring an additional 383,632 shares during the last quarter. Daymark Wealth Partners LLC increased its position in General Electric by 3.6% during the fourth quarter. Daymark Wealth Partners LLC now owns 22,978 shares of the conglomerate’s stock valued at $3,832,000 after acquiring an additional 805 shares during the last quarter. Melfa Wealth Management Inc. increased its position in General Electric by 0.6% during the fourth quarter. Melfa Wealth Management Inc. now owns 11,818 shares of the conglomerate’s stock valued at $1,971,000 after acquiring an additional 71 shares during the last quarter. Finally, Advisory Alpha LLC increased its position in General Electric by 9.6% during the fourth quarter. Advisory Alpha LLC now owns 2,684 shares of the conglomerate’s stock valued at $448,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

General Electric Stock Performance

Shares of NYSE:GE opened at $188.20 on Thursday. The company has a market capitalization of $203.69 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a 52 week low of $101.16 and a 52 week high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $174.39 and a 200 day moving average of $174.49.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts predict that General Electric will post 4.23 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. The trade was 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 Company Profile

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.