Deprince Race & Zollo Inc. Takes $43.70 Million Position in General Electric Company (GE)

Deprince Race & Zollo Inc. purchased a new position in shares of General Electric Company (NYSE:GE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,618,060 shares of the conglomerate’s stock, valued at approximately $43,704,000. General Electric makes up about 0.9% of Deprince Race & Zollo Inc.’s holdings, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GE. K.J. Harrison & Partners Inc boosted its holdings in General Electric by 16.3% during the first quarter. K.J. Harrison & Partners Inc now owns 92,995 shares of the conglomerate’s stock worth $2,771,000 after buying an additional 13,000 shares in the last quarter. BTC Capital Management Inc. boosted its holdings in General Electric by 1.1% during the first quarter. BTC Capital Management Inc. now owns 134,796 shares of the conglomerate’s stock worth $4,018,000 after buying an additional 1,411 shares in the last quarter. Selway Asset Management boosted its holdings in General Electric by 1.6% during the first quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock worth $1,819,000 after buying an additional 975 shares in the last quarter. Pegasus Partners Ltd. boosted its holdings in General Electric by 2.3% during the first quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock worth $2,358,000 after buying an additional 1,795 shares in the last quarter. Finally, Access Financial Services Inc. raised its position in General Electric by 81.5% during the first quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock worth $1,605,000 after acquiring an additional 24,180 shares during the period. 54.75% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on GE. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc. set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS AG cut shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Royal Bank Of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Deutsche Bank AG reduced their price objective on shares of General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, November 21st. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average target price of $24.49.

Shares of General Electric Company (GE) opened at $18.34 on Monday. The company has a market cap of $157,745.23, a PE ratio of 14.67, a PEG ratio of 1.98 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric Company has a 12-month low of $17.46 and a 12-month high of $32.38.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. sell-side analysts anticipate that General Electric Company will post 1.07 EPS for the current fiscal year.

In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction dated 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 directly owns 5,500 shares of the company’s stock, valued at $100,320. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The stock was acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock valued at $2,183,220 over the last quarter. Company insiders own 0.36% of the company’s stock.

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

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