Factory Mutual Insurance Co. raised its holdings in shares of General Electric (NYSE:GE) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,469,550 shares of the conglomerate’s stock after acquiring an additional 62,700 shares during the period. Factory Mutual Insurance Co.’s holdings in General Electric were worth $39,172,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in GE. HC Financial Advisors Inc. purchased a new position in General Electric in the 4th quarter worth $281,000. Csenge Advisory Group raised its position in General Electric by 17.6% in the 1st quarter. Csenge Advisory Group now owns 28,058 shares of the conglomerate’s stock worth $378,000 after purchasing an additional 4,201 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in General Electric by 1.0% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 1,363,909 shares of the conglomerate’s stock worth $18,385,000 after purchasing an additional 12,900 shares during the period. Fisher Asset Management LLC raised its position in General Electric by 6.6% in the 1st quarter. Fisher Asset Management LLC now owns 22,772,819 shares of the conglomerate’s stock worth $306,978,000 after purchasing an additional 1,402,853 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in General Electric by 17.2% in the 1st quarter. CHICAGO TRUST Co NA now owns 253,486 shares of the conglomerate’s stock worth $3,417,000 after purchasing an additional 37,123 shares during the period. 54.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. Gordon Haskett assumed coverage on shares of General Electric in a research report on Friday, October 12th. They issued a “sell” rating on the stock. Royal Bank of Canada decreased their target price on shares of General Electric to $13.00 and set a “neutral” rating on the stock in a research report on Friday, September 28th. Oppenheimer reiterated a “neutral” rating on shares of General Electric in a research report on Tuesday, October 2nd. Citigroup set a $21.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, Goldman Sachs Group set a $14.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Tuesday, October 30th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.09.
In other news, Director Francisco Dsouza purchased 60,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were acquired at an average price of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now directly owns 151,500 shares in the company, valued at $1,260,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the acquisition, the senior vice president now owns 103,075 shares in the company, valued at $977,151. The disclosure for this purchase can be found here. In the last three months, insiders acquired 295,000 shares of company stock worth $2,783,250. Insiders own 1.12% of the company’s stock.
Shares of General Electric stock opened at $7.94 on Friday. The firm has a market capitalization of $67.20 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 2.19 and a beta of 0.95. General Electric has a 12-month low of $7.26 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The firm had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. General Electric’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. Research analysts expect that General Electric will post 0.67 earnings per share for the current fiscal year.
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General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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