Assenagon Asset Management S.A. Acquires 123 Shares of General Electric (NYSE:GE)
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. lifted its stake in shares of General Electric by 12.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 2,001 shares of the conglomerate’s stock valued at $255,000 after acquiring an additional 218 shares during the last quarter. Bill Few Associates Inc. bought a new position in shares of General Electric in the 4th quarter valued at $272,000. Simon Quick Advisors LLC lifted its stake in shares of General Electric by 3.4% in the 4th quarter. Simon Quick Advisors LLC now owns 4,267 shares of the conglomerate’s stock valued at $545,000 after acquiring an additional 141 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of General Electric by 43.0% in the 4th quarter. Pacer Advisors Inc. now owns 105,684 shares of the conglomerate’s stock valued at $13,488,000 after acquiring an additional 31,775 shares during the last quarter. Finally, Cowa LLC bought a new position in shares of General Electric in the 4th quarter valued at $226,000. 74.77% of the stock is currently owned by institutional investors.
Insider Transactions at General Electric
In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Analyst Upgrades and Downgrades
GE has been the subject of a number of research reports. Wells Fargo & Company increased their price target on General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded General Electric from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $180.00 in a report on Friday, March 8th. Finally, Royal Bank of Canada increased their price objective on General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.54.
Read Our Latest Analysis on General Electric
General Electric Stock Performance
Shares of General Electric stock opened at $175.36 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $153.43 and a two-hundred day moving average price of $130.34. General Electric has a 1-year low of $93.47 and a 1-year high of $180.36. The company has a market cap of $191.72 billion, a P/E ratio of 20.95, a PEG ratio of 2.35 and a beta of 1.29.
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period last year, the business posted $1.24 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post 4.57 EPS for the current year.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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