Old Port Advisors lifted its stake in shares of General Electric (NYSE:GE) by 15.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,137 shares of the conglomerate’s stock after purchasing an additional 15,459 shares during the period. Old Port Advisors’ holdings in General Electric were worth $1,130,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of GE. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of General Electric by 250.0% during the 4th 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 during the period. Mackey Komara & Dankovich LLC purchased a new stake in shares of General Electric during the 4th quarter valued at approximately $27,000. Arbor Wealth Management LLC purchased a new stake in shares of General Electric during the 4th quarter valued at approximately $30,000. Edge Wealth Management LLC raised its position in shares of General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after buying an additional 1,300 shares during the period. Finally, SevenBridge Financial Group LLC raised its position in shares of General Electric by 100.4% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock valued at $32,000 after buying an additional 2,101 shares during the period. Institutional investors and hedge funds own 57.91% of the company’s stock.
General Electric stock opened at $10.12 on Wednesday. General Electric has a twelve month low of $6.66 and a twelve month high of $14.44. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. The firm has a market cap of $87.03 billion, a PE ratio of 15.57, a P/E/G ratio of 2.27 and a beta of 0.97.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $27.29 billion during the quarter, compared to the consensus estimate of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts predict that General Electric will post 0.61 EPS for the current year.
A number of analysts have issued reports on GE shares. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $6.00 target price on shares of General Electric in a research report on Wednesday, March 6th. ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Royal Bank of Canada reissued a “buy” rating and issued a $12.00 target price on shares of General Electric in a research report on Wednesday, March 6th. Finally, Cowen reissued a “hold” rating and issued a $8.00 target price on shares of General Electric in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.11.
In related news, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.
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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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