General Electric (GE) Shares Sold by Investment Management of Virginia LLC

Investment Management of Virginia LLC cut its holdings in General Electric (NYSE:GE) by 61.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,052 shares of the conglomerate’s stock after selling 222,257 shares during the period. Investment Management of Virginia LLC’s holdings in General Electric were worth $2,461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC bought a new stake in General Electric in the 3rd quarter worth approximately $204,000. Kalos Management Inc. bought a new stake in General Electric in the 3rd quarter worth approximately $211,000. Geneva Partners LLC bought a new stake in General Electric in the 3rd quarter worth approximately $214,000. Cahill Financial Advisors Inc. bought a new position in shares of General Electric during the 3rd quarter valued at approximately $224,000. Finally, Wedge Capital Management L L P NC bought a new position in shares of General Electric during the 3rd quarter valued at approximately $234,000. 55.96% of the stock is currently owned by institutional investors.

In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.12% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on GE. JPMorgan Chase reissued a “sell” rating and set a $16.00 target price on shares of General Electric in a research report on Wednesday, January 24th. Goldman Sachs set a $18.00 target price on General Electric and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Morningstar set a $23.50 target price on General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada set a $20.00 target price on General Electric and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup cut their target price on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.92.

Shares of General Electric stock opened at $15.03 on Friday. The firm has a market capitalization of $130.50 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76. General Electric has a 52 week low of $14.70 and a 52 week high of $14.95.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The company had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. General Electric’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. equities analysts expect that General Electric will post 0.96 EPS for the current fiscal year.

About General Electric

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.

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

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