Nicholas Hoffman & Company LLC. lessened its holdings in shares of General Electric (NYSE:GE) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,553 shares of the conglomerate’s stock after selling 6,487 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in General Electric were worth $227,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in GE. NEXT Financial Group Inc grew its holdings 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 worth $675,000 after acquiring an additional 3,471 shares during the period. Balasa Dinverno & Foltz LLC grew its holdings in shares of General Electric by 15.9% during the 4th quarter. Balasa Dinverno & Foltz LLC now owns 12,281 shares of the conglomerate’s stock worth $137,000 after acquiring an additional 1,688 shares during the period. Loveless Wealth Management LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $236,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of General Electric by 297.6% during the 4th 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 during the period. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of General Electric during the 4th quarter worth approximately $567,000. Institutional investors own 61.55% of the company’s stock.
A number of research analysts have weighed in on GE shares. Credit Suisse Group reduced their target price on General Electric from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Oppenheimer reiterated a “hold” rating on shares of General Electric in a report on Friday, May 8th. Cowen reiterated a “hold” rating and set a $8.00 target price on shares of General Electric in a report on Monday, May 4th. Deutsche Bank dropped their price target 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. Finally, Argus dropped their price target on General Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. One equities research 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 presently has an average rating of “Hold” and an average target price of $9.49.
GE stock traded down $0.07 during midday trading on Friday, hitting $6.41. The company’s stock had a trading volume of 69,131,315 shares, compared to its average volume of 135,825,280. The company has a market cap of $56.68 billion, a PE ratio of -19.42, a P/E/G ratio of 34.91 and a beta of 0.95. 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 firm’s 50-day moving average is $6.50 and its 200-day moving average is $9.84.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, April 29th. The conglomerate reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $20.34 billion. General Electric had a negative net margin of 2.39% and a positive return on equity of 13.66%. The business’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Analysts expect that General Electric will post 0.04 earnings per share for the current year.
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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