Millie Capital Management LLC Boosts Stake in General Electric Company (GE)
Millie Capital Management LLC increased its stake in General Electric Company (NYSE:GE) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,574 shares of the conglomerate’s stock after buying an additional 2,390 shares during the period. Millie Capital Management LLC’s holdings in General Electric were worth $1,358,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Feltz Wealth PLAN Inc. acquired a new position in shares of General Electric during the first quarter valued at $114,000. Heritage Way Advisors LLC bought a new stake in shares of General Electric during the fourth quarter valued at about $205,000. Cable Hill Partners LLC boosted its stake in shares of General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after buying an additional 780 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of General Electric during the first quarter valued at about $214,000. Finally, Hays Advisory LLC boosted its stake in shares of General Electric by 12.2% in the first quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock valued at $222,000 after buying an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 54.31% of the company’s stock.
General Electric Company (NYSE:GE) traded up 0.78% during midday trading on Friday, reaching $24.49. 22,867,795 shares of the company traded hands. The firm has a market capitalization of $212.03 billion, a price-to-earnings ratio of 29.83 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 $25.62 and its 200 day moving average price is $28.15.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. On average, analysts expect that General Electric Company will post $1.57 earnings per share for the current year.
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Several analysts have recently issued reports on GE shares. UBS AG reissued a “buy” rating and set a $31.00 price objective (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the company a “sell” rating in a research note on Monday, May 29th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price objective (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective for the company. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average target price of $30.08.
In other news, insider Alexander Dimitrief acquired 1,845 shares of General Electric stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction on Tuesday, August 22nd. The shares were purchased 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 have acquired 233,253 shares of company stock worth $5,860,264 over the last quarter. Corporate insiders own 0.36% of the company’s stock.
About General Electric
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