Wealth Advisors of Tampa Bay LLC purchased a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 269,301 shares of the conglomerate’s stock, valued at approximately $4,918,000. General Electric makes up about 3.4% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its 2nd largest position.
A number of other hedge funds have also added to or reduced their stakes in the stock. KCS Wealth Advisory acquired a new stake in shares of General Electric in the 4th quarter valued at $183,000. Northwest Capital Management Inc acquired a new stake in shares of General Electric in the 4th quarter valued at $191,000. Broadleaf Partners LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $195,000. Chicago Equity Partners LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $195,000. Finally, Barber Financial Group Inc. acquired a new stake in shares of General Electric in the 4th quarter valued at $196,000. 53.88% of the stock is owned by hedge funds and other institutional investors.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Insiders own 1.12% of the company’s stock.
GE has been the topic of several recent research reports. Gabelli initiated coverage on General Electric in a research report on Monday, May 14th. They issued a “buy” rating and a $22.50 price target on the stock. Citigroup set a $23.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, February 26th. Barclays initiated coverage on General Electric in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. restated an “underweight” rating and issued a $14.00 price target (down from $16.00) on shares of General Electric in a research report on Monday, February 12th. Finally, Morningstar set a $19.00 price target on General Electric and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average price target of $17.92.
General Electric opened at $14.63 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76. The stock has a market cap of $127.03 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. General Electric has a 1-year low of $12.73 and a 1-year high of $29.47.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion for the quarter, compared to analyst estimates of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. analysts predict that General Electric will post 0.96 earnings per share for the current year.
General Electric 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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