InterOcean Capital LLC Decreases Stock Position in General Electric (NYSE:GE)

InterOcean Capital LLC decreased its position in shares of General Electric (NYSE:GE) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 91,362 shares of the conglomerate’s stock after selling 2,251 shares during the quarter. InterOcean Capital LLC’s holdings in General Electric were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. NEXT Financial Group Inc lifted its stake in shares of General Electric by 6.1% during the 4th quarter. NEXT Financial Group Inc now owns 60,499 shares of the conglomerate’s stock valued at $675,000 after buying an additional 3,471 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its holdings in General Electric by 15.9% during the 4th quarter. Balasa Dinverno & Foltz LLC now owns 12,281 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 1,688 shares during the period. Loveless Wealth Management LLC purchased a new stake in shares of General Electric during the fourth quarter worth $236,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of General Electric by 297.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 24,117 shares of the conglomerate’s stock worth $269,000 after acquiring an additional 18,052 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in shares of General Electric in the fourth quarter worth $567,000. 61.55% of the stock is owned by institutional investors.

Shares of General Electric stock traded down $0.07 on Friday, hitting $6.41. 69,131,315 shares of the company traded hands, compared to its average volume of 135,825,280. General Electric has a 12-month low of $5.48 and a 12-month 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. The company has a market cap of $56.68 billion, a P/E ratio of -19.42, a P/E/G ratio of 34.91 and a beta of 0.95. The firm’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $9.84.

General Electric (NYSE:GE) last released its earnings results on Wednesday, April 29th. The conglomerate reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). General Electric had a negative net margin of 2.39% and a positive return on equity of 13.66%. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.34 billion. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was down 24.8% compared to the same quarter last year. Analysts predict that General Electric will post 0.04 earnings per share for the current year.

A number of analysts recently issued reports on the company. Oppenheimer reissued a “hold” rating on shares of General Electric in a report on Friday, May 8th. UBS Group lowered their price target on shares of General Electric from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, May 8th. Cowen restated a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research report on Monday, May 4th. Credit Suisse Group decreased their target price on shares of General Electric from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Argus cut their price target on shares of General Electric from $15.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $9.49.

About General Electric

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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