Heritage Trust Co lessened its stake in General Electric (NYSE:GE) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,207 shares of the conglomerate’s stock after selling 2,872 shares during the quarter. Heritage Trust Co’s holdings in General Electric were worth $89,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of General Electric by 2.9% in the fourth quarter. FMR LLC now owns 636,593,379 shares of the conglomerate’s stock valued at $7,104,382,000 after purchasing an additional 17,877,954 shares in the last quarter. State Street Corp lifted its holdings in shares of General Electric by 1.2% in the fourth quarter. State Street Corp now owns 346,942,917 shares of the conglomerate’s stock valued at $3,875,290,000 after purchasing an additional 4,182,509 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Electric by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 120,095,740 shares of the conglomerate’s stock valued at $1,337,166,000 after purchasing an additional 3,404,693 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Electric by 4.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 110,285,803 shares of the conglomerate’s stock valued at $1,230,790,000 after purchasing an additional 4,988,176 shares in the last quarter. Finally, Norges Bank bought a new position in shares of General Electric in the fourth quarter valued at approximately $908,096,000. Institutional investors own 61.55% of the company’s stock.
Shares of General Electric stock traded down $0.07 during midday trading on Friday, hitting $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 debt-to-equity ratio of 1.80, a quick ratio of 1.69 and a current ratio of 1.91. 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. The company has a 50 day moving average of $6.50 and a 200 day moving average of $9.84. General Electric has a 52-week low of $5.48 and a 52-week high of $13.26.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, April 29th. The conglomerate reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $20.34 billion. General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 EPS. Equities research analysts forecast that General Electric will post 0.04 EPS for the current year.
A number of analysts recently commented on GE shares. ValuEngine lowered General Electric from a “hold” rating to a “sell” rating in a report on Friday, March 6th. Credit Suisse Group dropped their price target on General Electric from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Imperial Capital lifted their price target on General Electric from $5.00 to $8.00 in a report on Monday, March 2nd. Gordon Haskett upgraded General Electric from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $7.00 to $11.00 in a report on Friday, February 7th. Finally, TheStreet upgraded General Electric from a “d+” rating to a “c” rating in a report on Wednesday, January 29th. One equities research 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. General Electric presently has a consensus rating of “Hold” and an average target price of $9.49.
General Electric 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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