Alambic Investment Management L.P. Makes New Investment in General Electric (NYSE:GE)

Alambic Investment Management L.P. purchased a new stake in General Electric (NYSE:GE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,800 shares of the conglomerate’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in General Electric in the fourth quarter valued at approximately $908,096,000. FMR LLC grew its stake in shares of General Electric by 2.9% during the 4th quarter. FMR LLC now owns 636,593,379 shares of the conglomerate’s stock worth $7,104,382,000 after acquiring an additional 17,877,954 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of General Electric by 25.6% during the 4th quarter. Renaissance Technologies LLC now owns 75,624,926 shares of the conglomerate’s stock worth $843,974,000 after acquiring an additional 15,404,966 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of General Electric by 5,507.1% in the first quarter. Bessemer Group Inc. now owns 8,158,819 shares of the conglomerate’s stock valued at $64,780,000 after purchasing an additional 8,013,311 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of General Electric by 23.2% in the first quarter. Swiss National Bank now owns 33,896,424 shares of the conglomerate’s stock worth $269,138,000 after purchasing an additional 6,378,000 shares in the last quarter. Institutional investors and hedge funds own 61.55% of the company’s stock.

Shares of NYSE:GE traded down $0.07 on Friday, hitting $6.41. The company had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. The stock has a market cap of $56.68 billion, a price-to-earnings ratio of -19.42, a P/E/G ratio of 34.91 and a beta of 0.95. The stock has a 50 day moving average price of $6.50 and a 200 day moving average price of $9.84. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26. The company has a current ratio of 1.91, a quick ratio of 1.69 and a debt-to-equity ratio of 1.80.

General Electric (NYSE:GE) last announced its earnings results on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.34 billion. General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The business’s quarterly revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. Sell-side analysts anticipate that General Electric will post 0.04 earnings per share for the current fiscal year.

Several brokerages have issued reports on GE. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Friday, March 6th. Deutsche Bank lowered their target price on General Electric from $13.50 to $8.40 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Barclays reiterated a “buy” rating and set a $13.00 target price on shares of General Electric in a report on Friday, March 13th. Oppenheimer restated a “hold” rating on shares of General Electric in a research note on Friday, May 8th. Finally, Cfra cut General Electric to a “hold” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $9.49.

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

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