NuWave Investment Management LLC acquired a new stake in General Electric (NYSE:GE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,654 shares of the conglomerate’s stock, valued at approximately $1,059,000. General Electric accounts for approximately 1.2% of NuWave Investment Management LLC’s investment portfolio, making the stock its 9th largest holding.
Other institutional investors and hedge funds have also modified their holdings of the company. Gould Asset Management LLC CA lifted its position in shares of General Electric by 20.3% in the third quarter. Gould Asset Management LLC CA now owns 15,329 shares of the conglomerate’s stock valued at $371,000 after acquiring an additional 2,588 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in shares of General Electric by 4.4% in the third quarter. Nicolet Bankshares Inc. now owns 63,543 shares of the conglomerate’s stock valued at $1,536,000 after acquiring an additional 2,686 shares in the last quarter. IBM Retirement Fund lifted its position in shares of General Electric by 1.3% in the third quarter. IBM Retirement Fund now owns 215,551 shares of the conglomerate’s stock valued at $5,736,000 after acquiring an additional 2,719 shares in the last quarter. First United Bank Trust lifted its position in shares of General Electric by 31.2% in the fourth quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock valued at $202,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. lifted its position in shares of General Electric by 6.1% in the third quarter. Vantage Financial Partners Ltd. Inc. now owns 48,475 shares of the conglomerate’s stock valued at $1,174,000 after acquiring an additional 2,800 shares in the last quarter. 53.88% of the stock is currently owned by institutional investors.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.12% of the stock is owned by insiders.
NYSE:GE opened at $14.63 on Friday. General Electric has a 52 week low of $12.73 and a 52 week high of $29.47. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $126.77 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.86 and a beta of 1.02.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The company had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts predict that General Electric will post 0.96 EPS for the current fiscal year.
Several research firms have recently weighed in on GE. Stifel Nicolaus decreased their target price on General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Credit Suisse Group restated a “hold” rating and issued a $16.00 target price on shares of General Electric in a research report on Tuesday, January 30th. DZ Bank restated a “neutral” rating on shares of General Electric in a research report on Friday, January 26th. Deutsche Bank set a $15.00 target price on General Electric and gave the company a “sell” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 price objective on shares of General Electric in a research report on Tuesday. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $17.92.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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