Barbara Oil Co. maintained its position in General Electric Company (NYSE:GE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the conglomerate’s stock at the close of the 2nd quarter. Barbara Oil Co. owned 0.06% of General Electric worth $1,080,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Boston Partners lifted its stake in shares of General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares in the last quarter. Harris Associates L P lifted its stake in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after purchasing an additional 9,681,420 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of General Electric by 417.3% in the 2nd quarter. First Trust Advisors LP now owns 4,452,413 shares of the conglomerate’s stock valued at $120,260,000 after purchasing an additional 3,591,689 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in shares of General Electric by 30.4% in the 2nd quarter. State of Wisconsin Investment Board now owns 11,020,282 shares of the conglomerate’s stock valued at $297,658,000 after purchasing an additional 2,570,080 shares in the last quarter. Finally, UBS Oconnor LLC lifted its stake in shares of General Electric by 795.5% in the 1st quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after purchasing an additional 1,798,877 shares in the last quarter. Hedge funds and other institutional investors own 55.74% of the company’s stock.
In other General Electric news, Director Francisco Dsouza bought 55,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $17.94 per share, with a total value of $986,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by corporate insiders.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. sell-side analysts anticipate that General Electric Company will post 1.07 earnings per share for the current year.
Several research firms have recently weighed in on GE. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $22.00 price objective on shares of General Electric in a research note on Thursday, September 7th. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price objective on the stock. in a research note on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Morgan Stanley reduced their price objective on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Finally, Argus reduced their price objective on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.64.
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