10 15 Associates Inc. Cuts Stake in General Electric (GE)
10 15 Associates Inc. decreased its holdings in General Electric (NYSE:GE) by 8.3% in the fourth quarter, HoldingsChannel reports. The firm owned 365,520 shares of the conglomerate’s stock after selling 32,977 shares during the period. 10 15 Associates Inc.’s holdings in General Electric were worth $2,767,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. increased its stake in shares of General Electric by 1.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock worth $447,000 after acquiring an additional 1,013 shares in the last quarter. BigSur Wealth Management LLC increased its stake in shares of General Electric by 3.4% in the 4th quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 1,048 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of General Electric by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock worth $818,000 after acquiring an additional 1,054 shares in the last quarter. Ford Financial Group Inc. increased its stake in shares of General Electric by 7.8% in the 4th quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock worth $122,000 after acquiring an additional 1,171 shares in the last quarter. Finally, Condor Capital Management increased its stake in shares of General Electric by 3.5% in the 4th quarter. Condor Capital Management now owns 34,901 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 1,173 shares in the last quarter. 58.16% of the stock is owned by institutional investors.
NYSE:GE opened at $9.53 on Tuesday. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.15 and a beta of 0.97. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $14.44.
GE has been the subject of several research reports. Credit Suisse Group reiterated a “neutral” rating and issued a $11.00 price target on shares of General Electric in a research note on Friday, March 8th. Zacks Investment Research upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Monday, May 20th. Deutsche Bank increased their price target on shares of General Electric from $8.00 to $11.00 and gave the stock a “positive” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Thursday, May 23rd. Finally, Gordon Haskett lowered shares of General Electric to an “underperform” rating and set a $7.00 price target for the company. in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.11.
In other news, Director Edward P. Garden sold 3,370,314 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the sale, the insider now directly owns 265,986 shares in the company, valued at approximately $2,641,240.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,709,756 shares of company stock valued at $45,535,810. 1.13% of the stock is owned by company insiders.
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General Electric Company Profile
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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