Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its position in General Electric (NYSE:GE) by 44.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 565,617 shares of the conglomerate’s stock after selling 459,157 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in General Electric were worth $7,888,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Gulf International Bank UK Ltd boosted its position in shares of General Electric by 2.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock worth $38,094,000 after buying an additional 67,257 shares in the last quarter. Pure Financial Advisors Inc. purchased a new stake in shares of General Electric in the 2nd quarter worth about $207,000. Filament LLC purchased a new stake in shares of General Electric in the 2nd quarter worth about $154,000. Baldwin Investment Management LLC boosted its position in shares of General Electric by 32.1% in the 1st quarter. Baldwin Investment Management LLC now owns 23,650 shares of the conglomerate’s stock worth $319,000 after buying an additional 5,750 shares in the last quarter. Finally, Hollencrest Capital Management boosted its position in shares of General Electric by 28.8% in the 2nd quarter. Hollencrest Capital Management now owns 183,613 shares of the conglomerate’s stock worth $2,499,000 after buying an additional 41,091 shares in the last quarter. 53.72% of the stock is currently owned by institutional investors.
GE has been the topic of several recent research reports. Royal Bank of Canada reiterated a “neutral” rating and issued a $15.00 price objective on shares of General Electric in a research report on Wednesday, August 8th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $11.00 price objective on shares of General Electric in a research report on Monday, May 28th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Bank of America decreased their price objective on shares of General Electric from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 27th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price objective on shares of General Electric in a research report on Tuesday, May 22nd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $16.99.
NYSE:GE opened at $12.56 on Thursday. The stock has a market capitalization of $112.35 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81. General Electric has a 12-month low of $11.94 and a 12-month high of $25.21.
General Electric (NYSE:GE) last released its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion for the quarter, compared to analyst estimates of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. analysts forecast that General Electric will post 0.96 earnings per share for the current year.
In other news, Director H Lawrence Culp, Jr. bought 191,000 shares of General Electric stock in a transaction on Tuesday, July 24th. The shares were bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by corporate insiders.
About General Electric
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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