Level Four Advisory Services LLC raised its stake in General Electric (NYSE:GE – Get Rating) by 59.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,086 shares of the conglomerate’s stock after buying an additional 1,905 shares during the quarter. Level Four Advisory Services LLC’s holdings in General Electric were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of General Electric by 5.7% in the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after buying an additional 2,238,808 shares during the period. Pzena Investment Management LLC grew its position in shares of General Electric by 8.4% in the 4th quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock valued at $1,042,334,000 after purchasing an additional 852,849 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in General Electric by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,682,895 shares of the conglomerate’s stock worth $536,864,000 after buying an additional 117,943 shares during the period. New York State Common Retirement Fund raised its holdings in General Electric by 6.2% during the 4th quarter. New York State Common Retirement Fund now owns 3,780,632 shares of the conglomerate’s stock worth $357,156,000 after buying an additional 219,321 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of General Electric by 10.3% in the third quarter. Renaissance Technologies LLC now owns 2,419,757 shares of the conglomerate’s stock valued at $249,308,000 after buying an additional 226,883 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.
Several equities research analysts recently commented on the stock. Credit Suisse Group cut their price objective on shares of General Electric from $113.00 to $102.00 in a research report on Wednesday, April 27th. Royal Bank of Canada lifted their target price on General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, March 11th. Morgan Stanley reduced their price target on General Electric to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, May 17th. Barclays lowered their price objective on shares of General Electric from $115.00 to $100.00 in a report on Friday, April 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $124.00 target price on shares of General Electric in a report on Wednesday, January 26th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $115.93.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $17.04 billion for the quarter, compared to analyst estimates of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. General Electric’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, equities research analysts expect that General Electric will post 2.83 earnings per share for the current year.
In other General Electric news, CEO H Lawrence Culp, Jr. bought 65,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were purchased at an average price of $74.53 per share, for a total transaction of $4,844,450.00. Following the transaction, the chief executive officer now directly owns 211,210 shares in the company, valued at approximately $15,741,481.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paula Rosput Reynolds purchased 1,200 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was acquired at an average price of $77.65 per share, with a total value of $93,180.00. Following the completion of the transaction, the director now owns 5,563 shares of the company’s stock, valued at approximately $431,966.95. The disclosure for this purchase can be found here. Insiders bought 69,801 shares of company stock worth $5,207,705 in the last ninety days. 0.70% of the stock is owned by company insiders.
About General Electric (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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