Mutual of Omaha Bank Wealth Management decreased its stake in shares of General Electric (NYSE:GE) by 27.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 86,414 shares of the conglomerate’s stock after selling 32,430 shares during the quarter. Mutual of Omaha Bank Wealth Management’s holdings in General Electric were worth $1,176,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Baystate Wealth Management LLC boosted its holdings in shares of General Electric by 124.0% during the 2nd quarter. Baystate Wealth Management LLC now owns 19,325 shares of the conglomerate’s stock worth $270,000 after buying an additional 10,696 shares during the period. Winslow Evans & Crocker Inc. raised its stake in General Electric by 7.5% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 75,972 shares of the conglomerate’s stock worth $1,036,000 after purchasing an additional 5,314 shares in the last quarter. Crescent Grove Advisors LLC raised its stake in General Electric by 15.1% in the 2nd quarter. Crescent Grove Advisors LLC now owns 53,432 shares of the conglomerate’s stock worth $734,000 after purchasing an additional 7,007 shares in the last quarter. Smithfield Trust Co. raised its stake in General Electric by 1.6% in the 2nd quarter. Smithfield Trust Co. now owns 264,664 shares of the conglomerate’s stock worth $3,602,000 after purchasing an additional 4,074 shares in the last quarter. Finally, Nwam LLC raised its stake in General Electric by 14.3% in the 2nd quarter. Nwam LLC now owns 58,674 shares of the conglomerate’s stock worth $799,000 after purchasing an additional 7,335 shares in the last quarter. 53.74% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on GE shares. Citigroup reiterated a “buy” rating on shares of General Electric in a research note on Tuesday, May 22nd. Gabelli started coverage on shares of General Electric in a research note on Monday, May 14th. They issued a “buy” rating and a $22.50 price objective for the company. Morningstar set a $15.70 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, August 13th. UBS Group set a $16.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research note on Friday, June 1st. Finally, MED upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Thursday, July 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.15.
Shares of NYSE:GE opened at $12.67 on Wednesday. The company has a market capitalization of $112.35 billion, a PE ratio of 14.22, a PEG ratio of 2.45 and a beta of 0.97. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39. General Electric has a 12 month low of $11.94 and a 12 month high of $25.21.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion during the quarter, compared to analysts’ expectations of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. research analysts expect that General Electric will post 0.96 EPS for the current year.
In other news, Director H Lawrence Culp, Jr. bought 191,000 shares of the company’s stock in a transaction dated Tuesday, July 24th. The stock was bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.
General Electric Company 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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