Insight 2811 Inc. Has $1.13 Million Stake in General Electric Company (GE)
Insight 2811 Inc. increased its stake in General Electric Company (NYSE:GE) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,789 shares of the conglomerate’s stock after buying an additional 118 shares during the period. General Electric comprises 0.9% of Insight 2811 Inc.’s holdings, making the stock its 13th largest position. Insight 2811 Inc.’s holdings in General Electric were worth $1,126,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of GE. Feltz Wealth PLAN Inc. acquired a new position in shares of General Electric during the first quarter valued at approximately $114,000. Cable Hill Partners LLC increased its position 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 acquired a new position in shares of General Electric during the first quarter valued at approximately $214,000. Hays Advisory LLC increased its position 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. Finally, Portfolio Solutions LLC increased its position in shares of General Electric by 5.0% in the first quarter. Portfolio Solutions LLC now owns 7,558 shares of the conglomerate’s stock valued at $225,000 after buying an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 54.77% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded down 0.716% during mid-day trading on Wednesday, reaching $24.265. The company had a trading volume of 7,028,308 shares. The firm’s 50 day moving average is $25.62 and its 200-day moving average is $28.15. General Electric Company has a 12-month low of $24.25 and a 12-month high of $32.38. The stock has a market capitalization of $210.09 billion, a P/E ratio of 29.555 and a beta of 1.21.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, analysts expect that General Electric Company will post $1.57 earnings per share for the current fiscal year.
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GE has been the topic of several recent analyst reports. UBS AG reaffirmed a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target on the stock. in a research report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $33.00 price target on shares of General Electric in a research report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. General Electric has an average rating of “Hold” and an average target price of $30.08.
In other news, insider Alexander Dimitrief bought 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Tisch bought 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.
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