Advisors Asset Management Inc. Grows Holdings in General Electric Company (GE)

Advisors Asset Management Inc. raised its position in shares of General Electric Company (NYSE:GE) by 22.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 823,672 shares of the conglomerate’s stock after purchasing an additional 153,490 shares during the quarter. Advisors Asset Management Inc.’s holdings in General Electric were worth $22,247,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Ullmann Financial Group Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at $106,000. PHH Investments Ltd. increased its holdings 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 acquiring an additional 2,000 shares during the last quarter. Oakmont Partners LLC increased its holdings 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 acquiring an additional 278 shares during the last quarter. Cascade Investment Advisors Inc. increased its holdings 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 acquiring an additional 1,625 shares during the last quarter. Finally, Barber Financial Group Inc. boosted its stake 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 period. Hedge funds and other institutional investors own 55.74% of the company’s stock.

General Electric Company (GE) traded up $0.07 during trading on Monday, reaching $17.95. The company had a trading volume of 68,331,250 shares, compared to its average volume of 45,026,973. The stock has a market capitalization of $155,660.00, a PE ratio of 14.42, a PEG ratio of 1.94 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts anticipate that General Electric Company will post 1.07 EPS for the current fiscal year.

In other news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock valued at $2,183,220 in the last quarter. 0.36% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on GE. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the company a “sell” rating in a research report on Tuesday, September 19th. Citigroup set a $28.00 price target on General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. UBS downgraded General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Royal Bank Of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Deutsche Bank decreased their price target on General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.31.

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

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