Alliance Wealth Management Group reduced its stake in General Electric Company (NYSE:GE) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,164 shares of the conglomerate’s stock after selling 498 shares during the quarter. Alliance Wealth Management Group’s holdings in General Electric were worth $435,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GE. Boston Partners raised its holdings in General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after acquiring an additional 14,050,581 shares during the period. Harris Associates L P increased its holdings in shares of General Electric by 26.4% during the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after purchasing an additional 9,681,420 shares during the period. First Trust Advisors LP increased its holdings in shares of General Electric by 417.3% during the second quarter. First Trust Advisors LP now owns 4,452,413 shares of the conglomerate’s stock worth $120,260,000 after purchasing an additional 3,591,689 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of General Electric by 30.4% during the second quarter. State of Wisconsin Investment Board now owns 11,020,282 shares of the conglomerate’s stock worth $297,658,000 after purchasing an additional 2,570,080 shares during the period. Finally, UBS Oconnor LLC increased its holdings in shares of General Electric by 795.5% during the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock worth $60,345,000 after purchasing an additional 1,798,877 shares during the period. 55.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza bought 55,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock worth $2,183,220 in the last quarter. 0.36% of the stock is currently owned by company insiders.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. analysts forecast that General Electric Company will post 1.07 earnings per share for the current fiscal year.
Several research analysts have recently commented on the stock. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Citigroup set a $28.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. UBS cut shares of General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $24.00 in a report on Monday, October 23rd. Royal Bank Of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $20.00 in a report on Tuesday, November 14th. Finally, Deutsche Bank lowered their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a report on Tuesday, November 21st. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.31.
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