CRA Financial Services LLC purchased a new stake in General Electric (NYSE:GE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,771 shares of the conglomerate’s stock, valued at approximately $112,000.
A number of other institutional investors also recently modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $27,000. Edge Wealth Management LLC increased its position in shares of General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 1,300 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of General Electric during the 4th quarter worth about $41,000. Finally, NuWave Investment Management LLC increased its position in shares of General Electric by 170.3% during the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock worth $46,000 after purchasing an additional 3,790 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the transaction, the insider now owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by company insiders.
A number of brokerages have commented on GE. Barclays increased their price objective on shares of General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Vertical Research lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 31st. William Blair reissued a “buy” rating on shares of General Electric in a report on Saturday, February 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.16 price objective (up previously from $1.06) on shares of General Electric in a report on Friday, February 1st. Finally, ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.11.
Shares of NYSE GE traded down $0.06 during mid-day trading on Wednesday, hitting $9.90. The company’s stock had a trading volume of 49,821,333 shares, compared to its average volume of 89,280,109. The firm has a market capitalization of $85.83 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62. General Electric has a one year low of $6.66 and a one year high of $15.21.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. As a group, equities research analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.
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General Electric Profile
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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