General Electric (GE) Shares Bought by Concentric Wealth Management LLC

Concentric Wealth Management LLC lifted its position in General Electric (NYSE:GE) by 7.5% in the 4th quarter, Holdings Channel reports. The firm owned 96,292 shares of the conglomerate’s stock after purchasing an additional 6,720 shares during the quarter. Concentric Wealth Management LLC’s holdings in General Electric were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in GE. Boston Partners raised its position in General Electric by 2.5% during the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after acquiring an additional 360,154 shares in the last quarter. Gabelli Funds LLC raised its position in General Electric by 10.2% during the third quarter. Gabelli Funds LLC now owns 2,225,000 shares of the conglomerate’s stock valued at $53,801,000 after acquiring an additional 206,644 shares in the last quarter. Brookstone Capital Management raised its position in General Electric by 17.3% during the third quarter. Brookstone Capital Management now owns 315,454 shares of the conglomerate’s stock valued at $7,628,000 after acquiring an additional 46,415 shares in the last quarter. Hennessy Advisors Inc. raised its position in General Electric by 36.2% during the third quarter. Hennessy Advisors Inc. now owns 328,734 shares of the conglomerate’s stock valued at $7,949,000 after acquiring an additional 87,350 shares in the last quarter. Finally, DnB Asset Management AS raised its position in General Electric by 1.5% during the fourth quarter. DnB Asset Management AS now owns 1,178,458 shares of the conglomerate’s stock valued at $20,564,000 after acquiring an additional 17,500 shares in the last quarter. Hedge funds and other institutional investors own 55.96% of the company’s stock.

Several research analysts recently weighed in on the company. Goldman Sachs set a $14.00 price target on General Electric and gave the company a “hold” rating in a research report on Monday, April 16th. Stifel Nicolaus lifted their price target on General Electric from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, April 27th. JPMorgan Chase reiterated an “underweight” rating and set a $14.00 price target (down from $16.00) on shares of General Electric in a research report on Monday, February 12th. Credit Suisse Group reiterated a “neutral” rating and set a $15.00 price target on shares of General Electric in a research report on Friday, April 27th. Finally, ValuEngine cut General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $17.92.

Shares of NYSE:GE opened at $15.03 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $130.50 billion, a PE ratio of 15.03, a PEG ratio of 2.92 and a beta of 1.02. General Electric has a 1 year low of $14.70 and a 1 year high of $14.95.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion for the quarter, compared to analyst estimates of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. research analysts anticipate that General Electric will post 0.96 EPS for the current fiscal year.

In other news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.12% of the company’s stock.

General Electric Profile

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.

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply