Bourne Lent Asset Management Inc. boosted its position in shares of General Electric Company (NYSE:GE) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,064 shares of the conglomerate’s stock after buying an additional 1,817 shares during the period. General Electric accounts for about 0.9% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 20th largest position. Bourne Lent Asset Management Inc.’s holdings in General Electric were worth $1,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BerganKDV Wealth Management LLC boosted its position in shares of General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after buying an additional 36 shares in the last quarter. Insight 2811 Inc. raised its stake in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares during the last quarter. Blue Fin Capital Inc. raised its stake in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in shares of General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after buying an additional 160 shares during the last quarter. Finally, Huntington Steele LLC raised its stake in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 54.77% of the company’s stock.

General Electric Company (NYSE:GE) traded down 0.429% on Tuesday, hitting $24.365. The company’s stock had a trading volume of 7,932,345 shares. The company has a market capitalization of $210.95 billion, a P/E ratio of 29.677 and a beta of 1.21. General Electric Company has a 1-year low of $24.28 and a 1-year high of $32.38. The company has a 50 day moving average price of $25.62 and a 200-day moving average price of $28.15.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.57 earnings per share for the current fiscal year.

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A number of analysts have recently issued reports on GE shares. UBS AG reaffirmed a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. reaffirmed a “buy” rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and an average target price of $30.08.

In other news, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.

General Electric Company Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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