Sadoff Investment Management LLC lowered its position in General Electric (NYSE:GE) by 4.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,455,175 shares of the conglomerate’s stock after selling 225,250 shares during the period. General Electric accounts for approximately 2.5% of Sadoff Investment Management LLC’s portfolio, making the stock its 19th largest position. Sadoff Investment Management LLC owned 0.05% of General Electric worth $27,756,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. TIAA FSB raised its position in shares of General Electric by 234.4% in the 3rd quarter. TIAA FSB now owns 1,649,509 shares of the conglomerate’s stock worth $10,276,000 after purchasing an additional 1,156,226 shares during the last quarter. KBC Group NV lifted its stake in shares of General Electric by 3.4% during the 3rd quarter. KBC Group NV now owns 985,362 shares of the conglomerate’s stock worth $6,139,000 after purchasing an additional 32,423 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of General Electric by 14.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 50,412 shares of the conglomerate’s stock worth $314,000 after purchasing an additional 6,260 shares during the period. Centric Wealth Management lifted its stake in shares of General Electric by 19.3% during the 3rd quarter. Centric Wealth Management now owns 27,259 shares of the conglomerate’s stock worth $232,000 after purchasing an additional 4,412 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its stake in shares of General Electric by 21.4% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 16,000 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 2,815 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.
GE has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on General Electric from $10.00 to $11.00 in a report on Thursday, October 29th. JPMorgan Chase & Co. reiterated a “fair value” rating on shares of General Electric in a report on Monday, August 31st. Oppenheimer upgraded General Electric from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Tuesday, November 24th. ValuEngine upgraded General Electric from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $6.81 to $9.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. General Electric currently has an average rating of “Buy” and a consensus target price of $9.30.
Shares of NYSE GE traded down $0.32 during mid-day trading on Monday, hitting $10.08. The company had a trading volume of 866,199 shares, compared to its average volume of 99,155,664. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. The business’s 50-day simple moving average is $8.17 and its 200-day simple moving average is $7.01. General Electric has a 12 month low of $5.48 and a 12 month high of $13.26. The firm has a market cap of $91.10 billion, a P/E ratio of 28.89 and a beta of 0.76.
General Electric (NYSE:GE) last released its earnings results on Wednesday, October 28th. The conglomerate reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $19.15 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. During the same quarter last year, the company earned $0.15 earnings per share. As a group, sell-side analysts predict that General Electric will post -0.03 EPS for the current year.
General Electric Profile
General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.
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