BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 197,862 Shares of General Electric (GE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of General Electric (NYSE:GE) by 8.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,535,030 shares of the conglomerate’s stock after buying an additional 197,862 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Electric were worth $19,190,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GE. Beacon Investment Advisory Services Inc. increased its stake in shares of General Electric by 1.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock worth $447,000 after acquiring an additional 1,013 shares during the last quarter. BigSur Wealth Management LLC increased its stake in shares of General Electric by 3.4% in the fourth quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 1,048 shares during the last quarter. Ford Financial Group Inc. increased its stake in shares of General Electric by 7.8% in the fourth quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock worth $122,000 after acquiring an additional 1,171 shares during the last quarter. Condor Capital Management increased its stake in shares of General Electric by 3.5% in the fourth quarter. Condor Capital Management now owns 34,901 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Glassman Wealth Services increased its stake in shares of General Electric by 5.0% in the fourth quarter. Glassman Wealth Services now owns 25,002 shares of the conglomerate’s stock worth $189,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

General Electric stock opened at $10.00 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. The firm has a market cap of $86.83 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.99. General Electric has a one year low of $6.66 and a one year high of $15.59.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion for the quarter, compared to the consensus estimate of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. On average, sell-side analysts predict that General Electric will post 0.61 EPS for the current fiscal year.

In other General Electric news, insider Russell Stokes sold 49,904 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the transaction, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.13% of the company’s stock.

A number of equities analysts have recently weighed in on GE shares. Argus raised shares of General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, February 2nd. Gabelli reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, February 26th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $12.00 price target on shares of General Electric in a research note on Wednesday, March 6th. Finally, Cowen reaffirmed a “hold” rating and issued a $8.00 price target on shares of General Electric in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $12.18.

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

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