Concentric Wealth Management LLC lifted its stake in shares of General Electric (NYSE:GE) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,292 shares of the conglomerate’s stock after acquiring an additional 6,720 shares during the quarter. Concentric Wealth Management LLC’s holdings in General Electric were worth $1,680,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC bought a new position in General Electric in the 3rd quarter worth approximately $204,000. Kalos Management Inc. bought a new position in General Electric in the 3rd quarter worth approximately $211,000. Geneva Partners LLC bought a new position in General Electric in the 3rd quarter worth approximately $214,000. Cahill Financial Advisors Inc. bought a new position in General Electric in the 3rd quarter worth approximately $224,000. Finally, Wedge Capital Management L L P NC bought a new position in General Electric in the 3rd quarter worth approximately $234,000. Institutional investors own 55.96% of the company’s stock.
NYSE:GE opened at $15.03 on Friday. General Electric has a fifty-two week low of $14.70 and a fifty-two week high of $14.95. The firm has a market cap of $130.50 billion, a P/E ratio of 15.03, a P/E/G ratio of 2.92 and a beta of 1.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76.
Several brokerages have recently issued reports on GE. Morningstar set a $23.50 price objective on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup decreased their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. JPMorgan Chase set a $11.00 price objective on General Electric and gave the stock a “sell” rating in a report on Friday, April 27th. Cowen reaffirmed a “market perform” rating and set a $15.00 price objective (down from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS began coverage on General Electric in a report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.92.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.
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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