BlueMountain Capital Management LLC lifted its stake in General Electric Company (NYSE:GE) by 34.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,432 shares of the conglomerate’s stock after purchasing an additional 20,043 shares during the period. BlueMountain Capital Management LLC owned 0.11% of General Electric worth $2,091,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of GE. Amalgamated Bank increased its stake in General Electric by 58.5% during the 2nd quarter. Amalgamated Bank now owns 988,480 shares of the conglomerate’s stock valued at $26,699,000 after purchasing an additional 364,898 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in General Electric by 3.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 411,742 shares of the conglomerate’s stock valued at $11,121,000 after purchasing an additional 15,599 shares in the last quarter. BlackRock Inc. increased its stake in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in General Electric by 1.8% during the 2nd quarter. Bahl & Gaynor Inc. now owns 4,474,177 shares of the conglomerate’s stock valued at $141,384,000 after purchasing an additional 79,442 shares in the last quarter. Finally, Courier Capital LLC increased its stake in General Electric by 1.5% during the 2nd quarter. Courier Capital LLC now owns 207,660 shares of the conglomerate’s stock valued at $5,609,000 after purchasing an additional 3,032 shares in the last quarter. 55.74% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven M. Mollenkopf bought 5,500 shares of the stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock worth $2,183,220 in the last three months. Insiders own 0.36% of the company’s stock.
GE has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of General Electric in a research note on Thursday, October 12th. J P Morgan Chase & Co reduced their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Vetr upgraded shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price objective for the company in a research note on Tuesday, October 10th. Citigroup set a $25.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $23.64.
Shares of General Electric Company (NYSE:GE) traded up $0.05 during trading hours on Friday, reaching $17.71. 55,584,700 shares of the company’s stock traded hands, compared to its average volume of 45,155,160. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38. The stock has a market capitalization of $153,149.02, a P/E ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.06.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period in the prior year, the firm earned $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. research analysts expect that General Electric Company will post 1.07 EPS for the current year.
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