Grubman Wealth Management Buys New Stake in General Electric Company (GE)

Grubman Wealth Management bought a new stake in shares of General Electric Company (NYSE:GE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,230 shares of the conglomerate’s stock, valued at approximately $275,000.

A number of other hedge funds have also added to or reduced their stakes in GE. Spectrum Management Group Inc. raised its stake in General Electric Company by 114.2% in the third quarter. Spectrum Management Group Inc. now owns 45,900 shares of the conglomerate’s stock valued at $1,360,000 after buying an additional 24,470 shares in the last quarter. Mathes Company Inc. increased its stake in shares of General Electric Company by 8.7% in the third quarter. Mathes Company Inc. now owns 183,889 shares of the conglomerate’s stock valued at $5,447,000 after buying an additional 14,750 shares during the period. Spero Smith Investment Advisers Inc. OH increased its stake in shares of General Electric Company by 12.5% in the third quarter. Spero Smith Investment Advisers Inc. OH now owns 14,243 shares of the conglomerate’s stock valued at $422,000 after buying an additional 1,584 shares during the period. Lehman Financial Resources Inc. increased its stake in shares of General Electric Company by 2.4% in the third quarter. Lehman Financial Resources Inc. now owns 200,626 shares of the conglomerate’s stock valued at $5,942,000 after buying an additional 4,609 shares during the period. Finally, Nippon Life Insurance Co. increased its stake in shares of General Electric Company by 1.0% in the third quarter. Nippon Life Insurance Co. now owns 378,771 shares of the conglomerate’s stock valued at $11,219,000 after buying an additional 3,731 shares during the period. 54.68% of the stock is owned by institutional investors and hedge funds.

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

General Electric Company (NYSE:GE) opened at 27.49 on Friday. The company has a 50-day moving average of $29.01 and a 200-day moving average of $30.17. General Electric Company has a 1-year low of $27.10 and a 1-year high of $33.00. The firm has a market capitalization of $238.72 billion, a price-to-earnings ratio of 27.99 and a beta of 1.20.

General Electric Company (NYSE:GE) last released its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. General Electric Company had a net margin of 6.86% and a return on equity of 15.99%. The firm had revenue of $27.66 billion for the quarter, compared to the consensus estimate of $26.37 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities analysts predict that General Electric Company will post $1.63 earnings per share for the current year.

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Several equities research analysts recently commented on the stock. William Blair restated a “buy” rating on shares of General Electric Company in a research report on Saturday, April 1st. TheStreet downgraded shares of General Electric Company from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Deutsche Bank AG set a $24.00 price target on shares of General Electric Company and gave the company a “sell” rating in a research report on Saturday, May 20th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price target on shares of General Electric Company in a research report on Monday, March 6th. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric Company in a research report on Monday, April 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. General Electric Company has a consensus rating of “Hold” and an average target price of $31.73.

In related news, Director Marijn E. Dekkers acquired 20,000 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were purchased at an average cost of $29.90 per share, for a total transaction of $598,000.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $29,900. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was bought at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the acquisition, the chairman now owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 140,000 shares of company stock worth $3,964,600. Corporate insiders own 0.23% of the company’s stock.

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