Reaves W H & Co. Inc. Continues to Hold Stake in General Electric Company (GE)
Reaves W H & Co. Inc. held its stake in shares of General Electric Company (NYSE:GE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the conglomerate’s stock at the end of the 2nd quarter. Reaves W H & Co. Inc.’s holdings in General Electric were worth $284,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Ullmann Financial Group Inc. acquired a new position in General Electric during the first quarter valued at approximately $106,000. PHH Investments Ltd. grew its holdings in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the period. Oakmont Partners LLC grew its holdings in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 278 shares during the period. Cascade Investment Advisors Inc. grew its holdings in General Electric by 25.2% during the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 1,625 shares during the period. Finally, Barber Financial Group Inc. grew its holdings in General Electric by 3.1% during the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after purchasing an additional 220 shares during the period. Institutional investors own 55.74% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded down $0.20 during mid-day trading on Tuesday, hitting $17.75. 14,585,562 shares of the stock were exchanged, compared to its average volume of 45,027,035. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The company has a market capitalization of $155,056.88, a price-to-earnings ratio of 14.42, a PEG ratio of 1.94 and a beta of 1.06. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38.
A number of research analysts recently issued reports on the stock. Cowen restated a “hold” rating and set a $24.00 price objective on shares of General Electric in a report on Monday, August 7th. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $22.00 price target on shares of General Electric in a research note on Thursday, September 7th. Vetr lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target on the stock. in a research note on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Finally, Morgan Stanley cut their price target on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.31.
In other General Electric news, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Francisco Dsouza acquired 55,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by insiders.
About General Electric
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