InterOcean Capital LLC lessened its position in General Electric (NYSE:GE) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,362 shares of the conglomerate’s stock after selling 2,251 shares during the period. InterOcean Capital LLC’s holdings in General Electric were worth $725,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GE. CBIZ Investment Advisory Services LLC bought a new position in shares of General Electric during the fourth quarter valued at $25,000. Rocky Mountain Advisers LLC raised its position in General Electric by 99.9% in the 1st quarter. Rocky Mountain Advisers LLC now owns 3,333 shares of the conglomerate’s stock worth $26,000 after buying an additional 1,666 shares during the last quarter. CLS Investments LLC lifted its stake in General Electric by 2,300.0% during the 4th quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 2,300 shares during the period. Pacifica Partners Inc. bought a new position in General Electric during the 4th quarter valued at about $28,000. Finally, Sage Financial Group Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.
A number of brokerages recently weighed in on GE. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a research report on Friday, March 20th. Argus dropped their price target on General Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Credit Suisse Group cut their price objective on General Electric from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Cfra downgraded General Electric to a “hold” rating in a report on Thursday, April 9th. Finally, Citigroup cut their price target on General Electric from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.49.
General Electric stock traded down $0.07 during midday trading on Friday, hitting $6.41. The stock had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. General Electric has a 52-week low of $5.48 and a 52-week high of $13.26. The company has a market capitalization of $56.68 billion, a PE ratio of -19.42, a P/E/G ratio of 34.91 and a beta of 0.95. The firm’s fifty day moving average is $6.50 and its two-hundred day moving average is $9.84. The company has a current ratio of 1.91, a quick ratio of 1.69 and a debt-to-equity ratio of 1.80.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, April 29th. The conglomerate reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.34 billion. General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, equities research analysts predict that General Electric will post 0.04 earnings per share for the current fiscal year.
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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