Capricorn Fund Managers Ltd purchased a new position in General Electric (NYSE:GE – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,149 shares of the conglomerate’s stock, valued at approximately $864,000.
A number of other hedge funds have also added to or reduced their stakes in GE. Missouri Trust & Investment Co bought a new position in General Electric in the 4th quarter valued at approximately $27,000. Benjamin Edwards Inc. lifted its holdings in shares of General Electric by 325.0% during the 4th quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock valued at $27,000 after buying an additional 221 shares during the period. Covestor Ltd bought a new position in shares of General Electric during the 4th quarter valued at $31,000. Bell Investment Advisors Inc bought a new position in shares of General Electric during the 3rd quarter valued at $32,000. Finally, FSB Premier Wealth Management Inc. bought a new position in shares of General Electric during the 4th quarter valued at $32,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.
GE has been the topic of a number of recent research reports. StockNews.com initiated coverage on General Electric in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America decreased their target price on General Electric from $132.00 to $120.00 in a report on Wednesday, April 27th. Wells Fargo & Company decreased their target price on General Electric from $105.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 26th. Morgan Stanley cut their price target on General Electric to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. Finally, Credit Suisse Group cut their price target on General Electric from $113.00 to $102.00 in a research note on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Buy” and a consensus price target of $115.67.
General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $17.04 billion for the quarter, compared to analyst estimates of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. General Electric’s revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. As a group, research analysts anticipate that General Electric will post 2.83 EPS for the current fiscal year.
In other news, SVP John S. Slattery acquired 3,601 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was acquired at an average price of $75.00 per share, for a total transaction of $270,075.00. Following the completion of the transaction, the senior vice president now owns 3,601 shares in the company, valued at approximately $270,075. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paula Rosput Reynolds acquired 1,200 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was purchased at an average price of $77.65 per share, with a total value of $93,180.00. Following the transaction, the director now owns 5,563 shares of the company’s stock, valued at approximately $431,966.95. The disclosure for this purchase can be found here. Insiders acquired 69,801 shares of company stock worth $5,207,705 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
General Electric Company Profile (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
- Get a free copy of the StockNews.com research report on General Electric (GE)
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