Neville Rodie & Shaw Inc. lowered its holdings in General Electric (NYSE:GE) by 15.0% in the 1st quarter, HoldingsChannel reports. The fund owned 168,059 shares of the conglomerate’s stock after selling 29,612 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in General Electric were worth $1,679,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in General Electric by 250.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after buying an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in shares of General Electric in the fourth quarter worth approximately $27,000. Arbor Wealth Management LLC bought a new stake in General Electric in the fourth quarter worth approximately $30,000. Edge Wealth Management LLC increased its holdings in General Electric by 47.4% in the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 1,300 shares in the last quarter. Finally, SevenBridge Financial Group LLC increased its holdings in shares of General Electric by 100.4% during the fourth quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 2,101 shares in the last quarter. 57.91% of the stock is owned by institutional investors.
Several research analysts recently issued reports on GE shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $11.00 target price on shares of General Electric in a research report on Friday, March 8th. Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Monday, May 20th. Deutsche Bank upped their price target on General Electric from $8.00 to $11.00 and gave the company a “positive” rating in a research report on Monday, February 25th. They noted that the move was a valuation call. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Thursday, May 23rd. Finally, Gordon Haskett lowered General Electric to an “underperform” rating and set a $7.00 price objective on the stock. in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.11.
General Electric stock opened at $10.28 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.77 and a debt-to-equity ratio of 1.62. The firm has a market cap of $88.25 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.30 and a beta of 0.98. General Electric has a twelve month low of $6.66 and a twelve month high of $14.44.
General Electric (NYSE:GE) last released its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The firm had revenue of $27.29 billion for the quarter, compared to the consensus estimate of $27.31 billion. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.
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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