Stifel Financial Corp lessened its position in General Electric (NYSE:GE) by 26.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,119,029 shares of the conglomerate’s stock after selling 405,222 shares during the period. Stifel Financial Corp’s holdings in General Electric were worth $10,005,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Ashburton Jersey Ltd purchased a new stake in shares of General Electric in the 2nd quarter worth about $25,000. Fusion Family Wealth LLC lifted its position in shares of General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the period. Employers Holdings Inc. purchased a new stake in shares of General Electric in the 2nd quarter worth about $28,000. Venturi Wealth Management LLC purchased a new stake in shares of General Electric in the 3rd quarter worth about $25,000. Finally, Princeton Global Asset Management LLC lifted its position in shares of General Electric by 307,700.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 3,077 shares during the period. 60.22% of the stock is currently owned by institutional investors and hedge funds.
GE has been the subject of a number of recent research reports. Barclays reissued a “buy” rating and set a $12.00 price target on shares of General Electric in a research report on Friday, October 4th. Deutsche Bank lifted their price target on shares of General Electric from $9.00 to $11.00 in a research report on Thursday, October 31st. Credit Suisse Group reissued a “hold” rating and set a $10.00 price target on shares of General Electric in a research report on Monday, November 4th. ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. set a $5.00 price target on shares of General Electric and gave the company an “underweight” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $10.27.
Shares of NYSE GE opened at $11.16 on Tuesday. The stock has a market cap of $98.43 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. General Electric has a 1 year low of $6.66 and a 1 year high of $11.84. The firm has a 50-day moving average of $10.43 and a 200 day moving average of $9.76.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. General Electric’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Research analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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