1832 Asset Management LP raised its holdings in General Electric (NYSE: GE – Get Rating) by 14.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 256,718 shares of the conglomerate’s stock after purchasing an additional 32,318 shares during the quarter. 1832 Asset Management LP’s holdings in General Electric were worth $ 24,240,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Bay Colony Advisory Group Inc dba Bay Colony Advisors increased its position in General Electric by 18.6% in the 4th quarter. Bay Colony Advisory Group Inc dba Bay Colony Advisors now owns 30,660 shares of the conglomerate’s stock valued at $ 2,896,000 after acquiring an additional 4,806 shares during the period. DekaBank Deutsche Girozentrale increased its position in General Electric by 26.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 371,305 shares of the conglomerate’s stock valued at $ 34,897,000 after acquiring an additional 77,601 shares during the period. Alhambra Investment Partners LLC increased its position in General Electric by 8.8% in the 4th quarter. Alhambra Investment Partners LLC now owns 8,487 shares of the conglomerate’s stock valued at $ 802,000 after acquiring an additional 685 shares during the period. InTrack Investment Management Inc boosted its stake in shares of General Electric by 27.0% in the 4th quarter. InTrack Investment Management Inc now owns 19,538 shares of the conglomerate’s stock valued at $ 2,016,000 after purchasing an additional 4,149 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in General Electric by 6.2% during the fourth quarter. Brown Advisory Inc. now owns 130,844 shares of the conglomerate’s stock worth $ 12,360,000 after acquiring an additional 7,665 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. Morgan Stanley lowered their objective price on shares of General Electric from $ 112.00 to $ 100.00 and set an “overweight” rating on the stock in a report on Tuesday, May 31st. StockNews.com started coverage on shares of General Electric in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays lowered their target price on shares of General Electric from $ 100.00 to $ 96.00 and set an “overweight” rating for the company in a report on Tuesday, May 24th. Royal Bank of Canada raised their price target on shares of General Electric from $ 113.00 to $ 118.00 and gave the stock an “outperform” rating in a report on Friday, March 11th. Finally, Credit Suisse Group decreased their price objective on shares of General Electric from $ 113.00 to $ 102.00 in a report on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 116.36.
In other news, Director Paula Rosput Reynolds bought 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were bought at an average cost of $ 77.65 per share, with a total value of $ 93,180.00. Following the completion of the purchase, the director now directly owns 5,563 shares in the company, valued at $ 431,966.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lawrence Culp, Jr. bought 65,000 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was purchased at an average cost of $ 74.53 per share, for a total transaction of $ 4,844,450.00. Following the completion of the purchase, the chief executive officer now owns 211,210 shares of the company stock, valued at $ 15,741,481.30. The disclosure for this purchase can be found here. Insiders have acquired 69,801 shares of company stock worth $ 5,207,705 over the last three months. Insiders own 0.70% of the company stock.
Shares of General Electric stock opened at $ 71.23 on Monday. General Electric has a 1 year low of $ 70.74 and a 1 year high of $ 116.17. The firm has a market cap of $ 78.40 billion, a PE ratio of -15.55, a PEG ratio of 3.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. The company has a 50 day simple moving average of $ 80.83 and a two-hundred day simple moving average of $ 90.29.
General Electric (NYSE: GE – Get Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $ 0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.20 by $ 0.04. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The business had revenue of $ 17.04 billion during the quarter, compared to analyst estimates of $ 16.92 billion. During the same period in the previous year, the business posted $ 0.24 earnings per share. General Electric’s revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 2.82 earnings per share for the current year.
About General Electric: (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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