Swedbank reduced its stake in General Electric Company (NYSE:GE) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,015,322 shares of the conglomerate’s stock after selling 64,995 shares during the period. Swedbank’s holdings in General Electric were worth $119,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LaFleur & Godfrey LLC acquired a new position in General Electric during the first quarter valued at $272,000. Sumitomo Mitsui Asset Management Company LTD raised its position in General Electric by 6.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 828,277 shares of the conglomerate’s stock valued at $24,682,000 after buying an additional 49,016 shares during the period. Access Financial Services Inc. raised its position in General Electric by 81.5% in the first quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock valued at $1,605,000 after buying an additional 24,180 shares during the period. Pegasus Partners Ltd. raised its position in General Electric by 2.3% in the first quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock valued at $2,358,000 after buying an additional 1,795 shares during the period. Finally, Selway Asset Management raised its position in General Electric by 1.6% in the first quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock valued at $1,819,000 after buying an additional 975 shares during the period. 54.31% of the stock is owned by hedge funds and other institutional investors.

General Electric Company (GE) traded up 0.844% during trading on Friday, reaching $24.505. The company had a trading volume of 4,808,667 shares. The firm has a market capitalization of $212.16 billion, a PE ratio of 29.848 and a beta of 1.21. General Electric Company has a 12-month low of $24.30 and a 12-month high of $32.38. The firm’s 50 day moving average price is $25.67 and its 200 day moving average price is $28.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities research analysts forecast that General Electric Company will post $1.57 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “General Electric Company (GE) Shares Sold by Swedbank” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/25/general-electric-company-ge-shares-sold-by-swedbank.html.

Several research firms have recently weighed in on GE. Cowen and Company reissued a “hold” rating and issued a $24.00 price objective on shares of General Electric in a research report on Monday, August 7th. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus lowered their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $31.00 target price (down from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 target price (down from $27.00) on shares of General Electric in a research report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.08.

In other General Electric news, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James S. Tisch acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Insiders bought 233,253 shares of company stock worth $5,860,264 in the last quarter. Company insiders own 0.36% of the company’s stock.

About General Electric

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

Receive News & Stock Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related stocks with our FREE daily email newsletter.