IFM Investors Pty Ltd boosted its holdings in shares of General Electric Company (NYSE:GE) by 32.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,439 shares of the conglomerate’s stock after buying an additional 58,614 shares during the period. General Electric makes up about 1.6% of IFM Investors Pty Ltd’s holdings, making the stock its 10th biggest position. IFM Investors Pty Ltd owned approximately 0.35% of General Electric worth $6,440,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GE. Ullmann Financial Group Inc. acquired a new position in shares of General Electric during the 1st quarter valued at about $106,000. PHH Investments Ltd. increased its holdings in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the last quarter. Ffcm LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $114,000. Flaharty Asset Management LLC acquired a new position in shares of General Electric during the 1st quarter valued at about $226,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $209,000. 55.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, with a total value of $986,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders acquired a total of 120,500 shares of company stock valued at $2,183,220 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the prior year, the business posted $0.32 EPS. General Electric’s revenue was up 11.5% compared to the same quarter last year. equities analysts expect that General Electric Company will post 1.07 EPS for the current year.
A number of research analysts have recently commented on GE shares. J P Morgan Chase & Co reissued an “underweight” rating and set a $22.00 price objective on shares of General Electric in a report on Thursday, September 7th. Deutsche Bank restated a “sell” rating and set a $21.00 target price (down previously from $24.00) on shares of General Electric in a research note on Monday, September 11th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research note on Wednesday, September 13th. Royal Bank Of Canada restated a “buy” rating and set a $31.00 target price on shares of General Electric in a research note on Friday, September 15th. Finally, Argus decreased their target price on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. General Electric has an average rating of “Hold” and an average target price of $23.64.
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