Greenline Partners LLC boosted its stake in General Electric (NYSE:GE) by 20.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 131,844 shares of the conglomerate’s stock after acquiring an additional 22,584 shares during the quarter. Greenline Partners LLC’s holdings in General Electric were worth $1,503,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in GE. Gulf International Bank UK Ltd raised its holdings in shares of General Electric by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock worth $38,094,000 after acquiring an additional 67,257 shares during the period. ST Germain D J Co. Inc. raised its holdings in shares of General Electric by 2.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock worth $15,349,000 after acquiring an additional 24,812 shares during the period. Pure Financial Advisors Inc. purchased a new position in shares of General Electric during the 2nd quarter worth $207,000. Tributary Capital Management LLC raised its holdings in shares of General Electric by 5,184.5% during the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock worth $1,000,000 after acquiring an additional 72,065 shares during the period. Finally, Filament LLC purchased a new position in shares of General Electric during the 2nd quarter worth $154,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.
GE has been the topic of several analyst reports. Bank of America reiterated a “hold” rating and set a $14.00 price target on shares of General Electric in a report on Thursday, October 4th. Credit Suisse Group reiterated a “neutral” rating and set a $12.00 price target on shares of General Electric in a report on Wednesday, October 31st. Royal Bank of Canada reiterated a “neutral” rating and set a $15.00 price target on shares of General Electric in a report on Wednesday, August 8th. ValuEngine upgraded General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, October 6th. Finally, Deutsche Bank reduced their price target on General Electric from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, November 30th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $13.86.
Shares of GE opened at $7.28 on Thursday. The stock has a market capitalization of $63.21 billion, a P/E ratio of 6.93, a P/E/G ratio of 2.07 and a beta of 0.88. General Electric has a 12-month low of $7.26 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66.
General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts expect that General Electric will post 0.67 earnings per share for the current year.
In other news, Director Francisco Dsouza bought 60,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was bought at an average cost of $8.32 per share, with a total value of $499,200.00. Following the transaction, the director now directly owns 151,500 shares in the company, valued at approximately $1,260,480. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman H Lawrence Culp, Jr. bought 225,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 295,000 shares of company stock valued at $2,783,250. 1.12% of the stock is currently owned by corporate insiders.
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About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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