General Electric Company (GE) Holdings Raised by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL boosted its stake in shares of General Electric Company (NYSE:GE) by 10.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,272,332 shares of the conglomerate’s stock after purchasing an additional 125,321 shares during the quarter. Gamco Investors INC. ET AL’s holdings in General Electric were worth $34,366,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners grew its holdings in shares of General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Harris Associates L P boosted its holdings in General Electric by 26.4% during the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares during the last quarter. First Trust Advisors LP boosted its holdings in General Electric by 417.3% during the second quarter. First Trust Advisors LP now owns 4,452,413 shares of the conglomerate’s stock worth $120,260,000 after buying an additional 3,591,689 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of General Electric by 30.4% during the second quarter. State of Wisconsin Investment Board now owns 11,020,282 shares of the conglomerate’s stock worth $297,658,000 after purchasing an additional 2,570,080 shares during the period. Finally, UBS Oconnor LLC raised its position in shares of General Electric by 795.5% during the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock worth $60,345,000 after purchasing an additional 1,798,877 shares during the period. 54.75% of the stock is owned by institutional investors.
General Electric Company (NYSE:GE) opened at $18.19 on Friday. The company has a market capitalization of $157,745.23, a price-to-earnings ratio of 14.67, a PEG ratio of 1.98 and a beta of 1.11. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. research analysts anticipate that General Electric Company will post 1.07 EPS for the current fiscal year.
In related news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Insiders have acquired 120,500 shares of company stock worth $2,183,220 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Several research analysts have recently commented on the company. Deutsche Bank AG reduced their target price on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research note on Tuesday, November 21st. J P Morgan Chase & Co set a $17.00 price target on General Electric and gave the company a “sell” rating in a research note on Wednesday, November 15th. Bank of America Corporation reaffirmed a “buy” rating and issued a $23.00 price objective (down from $27.00) on shares of General Electric in a report on Tuesday, November 14th. Morningstar, Inc. reissued a “buy” rating on shares of General Electric in a report on Tuesday, November 14th. Finally, Stifel Nicolaus set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.49.
About General Electric
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