Andra AP fonden boosted its position in General Electric Company (NYSE:GE) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,700 shares of the conglomerate’s stock after buying an additional 39,800 shares during the quarter. Andra AP fonden owned 0.53% of General Electric worth $9,715,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Ullmann Financial Group Inc. acquired a new stake in General Electric during the first quarter worth about $106,000. PHH Investments Ltd. grew its position in General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the last quarter. Oakmont Partners LLC grew its position in General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares during the last quarter. Cascade Investment Advisors Inc. grew its position in General Electric by 25.2% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Barber Financial Group Inc. grew its position in General Electric by 3.1% in the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 55.74% of the company’s stock.
In other news, Director Steven M. Mollenkopf purchased 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by insiders.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. research analysts predict that General Electric Company will post 1.07 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 target price for the company. in a research report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Tuesday, October 24th. J P Morgan Chase & Co reiterated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 price objective for the company in a report on Monday, October 23rd. Finally, Goldman Sachs Group set a $19.00 price objective on shares of General Electric and gave the company a “neutral” rating in a report on Thursday, November 30th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and an average price target of $24.31.
General Electric Company Profile
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