Fiduciary Group LLC lifted its position in General Electric (NYSE:GE) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,952 shares of the conglomerate’s stock after buying an additional 6,220 shares during the quarter. Fiduciary Group LLC’s holdings in General Electric were worth $555,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in GE. NEXT Financial Group Inc lifted its holdings in General Electric by 6.1% during the 4th quarter. NEXT Financial Group Inc now owns 60,499 shares of the conglomerate’s stock valued at $675,000 after purchasing an additional 3,471 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its holdings in General Electric by 15.9% during the 4th quarter. Balasa Dinverno & Foltz LLC now owns 12,281 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 1,688 shares during the last quarter. Loveless Wealth Management LLC acquired a new stake in General Electric during the 4th quarter valued at $236,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in General Electric by 297.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 24,117 shares of the conglomerate’s stock valued at $269,000 after purchasing an additional 18,052 shares during the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in General Electric during the 4th quarter valued at $567,000. 61.55% of the stock is owned by institutional investors and hedge funds.
GE stock traded down $0.07 during midday trading on Friday, reaching $6.41. The company had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of -19.42, a price-to-earnings-growth ratio of 34.91 and a beta of 0.95. The stock has a 50 day moving average price of $6.50 and a 200-day moving average price of $9.84. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.91 and a quick ratio of 1.69.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). General Electric had a negative net margin of 2.39% and a positive return on equity of 13.66%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.34 billion. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, research analysts anticipate that General Electric will post 0.04 earnings per share for the current year.
A number of research firms have recently weighed in on GE. Morgan Stanley dropped their target price on General Electric from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Bank of America reissued a “buy” rating and set a $16.00 target price on shares of General Electric in a report on Thursday, March 5th. Imperial Capital lifted their target price on General Electric from $5.00 to $8.00 in a report on Monday, March 2nd. Citigroup dropped their target price on General Electric from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Cfra downgraded General Electric to a “hold” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.49.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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