General Electric (NYSE:GE) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. trimmed its position in shares of General Electric (NYSE:GE) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 757,254 shares of the conglomerate’s stock after selling 155,074 shares during the quarter. M&G Investment Management Ltd.’s holdings in General Electric were worth $9,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Disciplined Investments LLC acquired a new position in General Electric during the first quarter worth about $98,000. Budros Ruhlin & Roe Inc. grew its position in General Electric by 12.4% during the first quarter. Budros Ruhlin & Roe Inc. now owns 28,150 shares of the conglomerate’s stock worth $370,000 after buying an additional 3,111 shares during the period. Advisory Research Inc. acquired a new position in General Electric during the first quarter worth about $417,000. BOK Financial Private Wealth Inc. grew its position in General Electric by 13.3% during the first quarter. BOK Financial Private Wealth Inc. now owns 14,158 shares of the conglomerate’s stock worth $186,000 after buying an additional 1,667 shares during the period. Finally, First National Bank acquired a new position in General Electric during the first quarter worth about $913,000. Institutional investors own 63.41% of the company’s stock.

Shares of GE opened at $13.63 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.96 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $119.65 billion, a P/E ratio of -29.63, a price-to-earnings-growth ratio of 12.71 and a beta of 1.06. The firm’s 50 day moving average price is $13.45. General Electric has a 1 year low of $5.93 and a 1 year high of $14.41.

General Electric (NYSE:GE) last issued its quarterly earnings results on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. General Electric had a negative net margin of 4.33% and a positive return on equity of 1.53%. The firm had revenue of $17.12 billion during the quarter, compared to analyst estimates of $17.66 billion. During the same quarter in the prior year, the business posted $0.05 earnings per share. General Electric’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, equities research analysts expect that General Electric will post 0.26 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. Credit Suisse Group upped their price target on shares of General Electric from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, April 28th. UBS Group upped their price target on shares of General Electric from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, April 9th. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $14.00 price target on the stock in a report on Wednesday, March 31st. Barclays upped their price target on shares of General Electric from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $13.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, March 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $14.60.

About General Electric

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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