Cigna Investments Inc. New boosted its holdings in General Electric (NYSE:GE) by 6.6% during the first quarter, HoldingsChannel.com reports. The fund owned 245,938 shares of the conglomerate’s stock after acquiring an additional 15,120 shares during the period. Cigna Investments Inc. New’s holdings in General Electric were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $25,000. Rocky Mountain Advisers LLC increased its stake in shares of General Electric by 99.9% in the first quarter. Rocky Mountain Advisers LLC now owns 3,333 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 1,666 shares during the period. CLS Investments LLC increased its stake in shares of General Electric by 2,300.0% in the fourth quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 2,300 shares during the period. Pacifica Partners Inc. acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $28,000. Finally, Sage Financial Group Inc. acquired a new stake in shares of General Electric in the first quarter valued at approximately $32,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.
General Electric stock traded down $0.07 during mid-day trading on Friday, hitting $6.41. The company’s stock had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. The company has a quick ratio of 1.69, a current ratio of 1.91 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $56.68 billion, a P/E ratio of -19.42, a P/E/G ratio of 34.91 and a beta of 0.95. General Electric has a twelve month low of $5.48 and a twelve month high of $13.26. The stock’s fifty day moving average price is $6.50 and its two-hundred day moving average price is $9.84.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The firm had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.34 billion. During the same period in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities analysts expect that General Electric will post 0.04 earnings per share for the current year.
GE has been the topic of several analyst reports. UBS Group dropped their price target on shares of General Electric from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Friday, May 8th. Gordon Haskett upgraded shares of General Electric from an “underperform” rating to a “hold” rating and raised their price target for the company from $7.00 to $11.00 in a research note on Friday, February 7th. Barclays reiterated a “buy” rating and set a $13.00 price objective on shares of General Electric in a research note on Friday, March 13th. TheStreet upgraded shares of General Electric from a “d+” rating to a “c” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley lowered their price objective on shares of General Electric from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $9.49.
About General Electric
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.
See Also: What is Call Option Volume?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.