General Electric Co. (GE) Stake Raised by Integrated Wealth Management
Integrated Wealth Management raised its position in General Electric Co. (NYSE:GE) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,409 shares of the company’s stock after buying an additional 2,692 shares during the period. General Electric accounts for 1.4% of Integrated Wealth Management’s investment portfolio, making the stock its 11th largest position. Integrated Wealth Management’s holdings in General Electric were worth $3,804,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Cable Hill Partners LLC increased its stake in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the last quarter. Catamount Wealth Management increased its stake in General Electric by 34.8% in the second quarter. Catamount Wealth Management now owns 4,651 shares of the company’s stock worth $146,000 after buying an additional 1,200 shares during the last quarter. Global X Management Co. LLC increased its stake in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares during the last quarter. New Harbor Financial Group LLC increased its stake in General Electric by 46.0% in the third quarter. New Harbor Financial Group LLC now owns 5,828 shares of the company’s stock worth $172,000 after buying an additional 1,837 shares during the last quarter. Finally, James Investment Research Inc. boosted its position in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Institutional investors own 53.50% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.64% during midday trading on Tuesday, hitting $31.05. 31,421,839 shares of the stock were exchanged. The stock has a market cap of $274.68 billion, a price-to-earnings ratio of 26.70 and a beta of 1.20. The firm’s 50-day moving average is $29.59 and its 200-day moving average is $30.44. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 21st. The company reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The company earned $29.30 billion during the quarter, compared to analysts’ expectations of $29.64 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. General Electric’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts predict that General Electric Co. will post $1.49 earnings per share for the current year.
Several analysts recently issued reports on GE shares. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating in a research note on Monday, October 24th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $32.72 target price on the stock. in a research note on Monday, October 31st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $26.00 target price on shares of General Electric in a research note on Thursday, August 11th. RBC Capital Markets set a $36.00 target price on General Electric and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. set a $30.00 target price on General Electric and gave the stock a “neutral” rating in a research note on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average target price of $32.56.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average price of $29.24 per share, with a total value of $1,462,000.00. Following the completion of the transaction, the chairman now directly owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.
General Electric Company Profile
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