State of Wisconsin Investment Board Boosts Holdings in General Electric Company (GE)
State of Wisconsin Investment Board raised its holdings in shares of General Electric Company (NYSE:GE) by 14.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,450,202 shares of the conglomerate’s stock after purchasing an additional 1,067,235 shares during the period. General Electric accounts for about 1.0% of State of Wisconsin Investment Board’s portfolio, making the stock its 12th largest position. State of Wisconsin Investment Board owned 0.10% of General Electric worth $251,816,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the 1st quarter valued at about $114,000. Cable Hill Partners LLC boosted its holdings in shares of General Electric by 12.5% in the 1st 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 in the 1st quarter valued at about $214,000. Hays Advisory LLC boosted its holdings in shares of General Electric by 12.2% in the 1st 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 boosted its holdings in shares of General Electric by 5.0% in the 1st 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. 54.77% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (NYSE:GE) traded up 2.40% during trading on Friday, reaching $25.14. 58,848,107 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $25.37 and a 200-day moving average of $27.97. The stock has a market capitalization of $217.66 billion, a PE ratio of 30.62 and a beta of 1.22. General Electric Company has a 52 week low of $24.15 and a 52 week high of $32.38.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that General Electric Company will post $1.57 EPS for the current year.
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A number of analysts have recently weighed in on the stock. TheStreet cut shares of General Electric from a “b-” rating to a “c” rating in a report on Friday, May 19th. Morgan Stanley restated an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Deutsche Bank AG cut shares of General Electric from a “hold” rating to a “sell” rating and lowered their price target for the company from $28.00 to $24.00 in a report on Friday, May 12th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. General Electric currently 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 the firm’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Leonard Flannery acquired 103,983 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. Insiders bought 233,253 shares of company stock valued at $5,860,264 over the last three months. Corporate insiders own 0.36% of the company’s stock.
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