Palladium Partners LLC Sells 3,951 Shares of General Electric (NYSE:GE)

Palladium Partners LLC reduced its stake in General Electric (NYSE:GE) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,103 shares of the conglomerate’s stock after selling 3,951 shares during the period. Palladium Partners LLC’s holdings in General Electric were worth $1,078,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Savior LLC boosted its stake in General Electric by 157.7% during the fourth quarter. Savior LLC now owns 2,564 shares of the conglomerate’s stock valued at $28,000 after buying an additional 1,569 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of General Electric during the 1st quarter valued at approximately $28,000. TD Ameritrade Investment Management LLC bought a new position in shares of General Electric during the 4th quarter valued at approximately $31,000. Childress Capital Advisors LLC purchased a new position in shares of General Electric in the fourth quarter valued at $35,000. Finally, Accel Wealth Management bought a new stake in General Electric in the fourth quarter worth $37,000. Institutional investors and hedge funds own 60.09% of the company’s stock.

NYSE:GE opened at $13.15 on Tuesday. The company has a market cap of $115.44 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. General Electric has a twelve month low of $5.74 and a twelve month high of $14.41. The company has a current ratio of 2.31, a quick ratio of 2.04 and a debt-to-equity ratio of 2.10. The stock has a fifty day simple moving average of $13.32 and a 200-day simple moving average of $11.69.

General Electric (NYSE:GE) last posted its quarterly earnings results on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $17.12 billion for the quarter, compared to the consensus estimate of $17.66 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. As a group, equities research analysts predict that General Electric will post 0.04 EPS for the current fiscal year.

A number of brokerages have commented on GE. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research note on Wednesday, March 17th. Credit Suisse Group lifted their price target on General Electric from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 4th. The Goldman Sachs Group set a $15.00 price objective on General Electric and gave the company a “buy” rating in a research report on Wednesday, March 17th. Cowen reiterated a “hold” rating and issued a $10.00 target price on shares of General Electric in a report on Thursday, March 11th. Finally, Citigroup started coverage on General Electric in a research report on Friday. They set a “buy” rating and a $17.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.40.

In other news, Director Paula Rosput Reynolds purchased 5,000 shares of the stock in a transaction that occurred on Friday, March 12th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the director now owns 26,500 shares of the company’s stock, valued at $331,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

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

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