Rockland Trust Co. raised its holdings in shares of General Electric (NYSE:GE) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,815 shares of the conglomerate’s stock after purchasing an additional 16,760 shares during the quarter. Rockland Trust Co.’s holdings in General Electric were worth $3,145,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. FMR LLC lifted its holdings in shares of General Electric by 61.4% in the fourth quarter. FMR LLC now owns 301,446,675 shares of the conglomerate’s stock worth $2,281,952,000 after buying an additional 114,680,188 shares in the last quarter. Norges Bank purchased a new stake in shares of General Electric in the fourth quarter worth about $555,184,000. Harris Associates L P lifted its holdings in shares of General Electric by 35.1% in the fourth quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock worth $921,903,000 after buying an additional 31,634,318 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of General Electric by 90.0% in the fourth quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock worth $479,662,000 after buying an additional 30,017,912 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of General Electric by 1,719.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,319,274 shares of the conglomerate’s stock worth $2,288,000 after buying an additional 16,367,170 shares in the last quarter. 57.91% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on GE shares. Gabelli reissued a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Royal Bank of Canada reissued a “buy” rating and issued a $12.00 price target on shares of General Electric in a report on Wednesday, March 6th. Zacks Investment Research raised shares of General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Monday, May 20th. William Blair reissued a “buy” rating on shares of General Electric in a report on Thursday, May 23rd. Finally, ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.11.
In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $250,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.
GE stock opened at $10.28 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $88.25 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.30 and a beta of 0.98. General Electric has a 1-year low of $6.66 and a 1-year high of $14.44.
General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business had revenue of $27.29 billion for the quarter, compared to analysts’ expectations of $27.31 billion. During the same period last year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 0.61 earnings per share for the current year.
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About General Electric
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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