Nomura Asset Management Co. Ltd. reduced its holdings in shares of General Electric (NYSE:GE) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,651,105 shares of the conglomerate’s stock after selling 14,308 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Electric were worth $13,110,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GE. CBIZ Investment Advisory Services LLC purchased a new position in General Electric in the fourth quarter worth about $25,000. Rocky Mountain Advisers LLC raised its holdings in General Electric by 99.9% in the first quarter. Rocky Mountain Advisers LLC now owns 3,333 shares of the conglomerate’s stock worth $26,000 after buying an additional 1,666 shares during the last quarter. CLS Investments LLC raised its holdings in shares of General Electric by 2,300.0% during the fourth quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 2,300 shares during the last quarter. Sage Financial Group Inc. purchased a new position in shares of General Electric during the first quarter valued at approximately $32,000. Finally, IndexIQ Advisors LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $33,000. 62.04% of the stock is owned by institutional investors.
Several research firms have recently weighed in on GE. Oppenheimer reissued a “hold” rating on shares of General Electric in a report on Friday, May 8th. JPMorgan Chase & Co. restated a “hold” rating and set a $5.00 target price on shares of General Electric in a research report on Thursday, April 30th. UBS Group restated a “buy” rating and set a $7.50 target price on shares of General Electric in a research report on Friday, May 29th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $7.00 target price for the company in a research report on Friday, March 20th. Finally, Argus cut their target price on shares of General Electric from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average target price of $9.14.
Shares of NYSE:GE traded down $0.60 during midday trading on Thursday, reaching $7.01. 83,247,038 shares of the company were exchanged, compared to its average volume of 101,528,641. The company has a current ratio of 1.91, a quick ratio of 1.69 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average is $6.58 and its two-hundred day moving average is $9.45. General Electric has a one year low of $5.48 and a one year high of $13.26. The stock has a market cap of $62.02 billion, a PE ratio of -21.48, a price-to-earnings-growth ratio of 42.45 and a beta of 0.94.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, April 29th. The conglomerate reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). General Electric had a positive return on equity of 13.66% and a negative net margin of 2.39%. The company had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $20.34 billion. During the same quarter in the prior year, the company posted $0.12 EPS. General Electric’s revenue was down 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 0.04 EPS for the current year.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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