General Electric (NYSE:GE) Shares Sold by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC reduced its position in General Electric (NYSE:GE) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,432 shares of the conglomerate’s stock after selling 68,228 shares during the period. Ropes Wealth Advisors LLC’s holdings in General Electric were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC purchased a new stake in General Electric in the 1st quarter worth $28,000. TD Ameritrade Investment Management LLC purchased a new stake in General Electric in the 4th quarter worth $31,000. Childress Capital Advisors LLC purchased a new stake in shares of General Electric during the fourth quarter worth $35,000. Inspire Advisors LLC purchased a new stake in shares of General Electric during the fourth quarter worth $38,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of General Electric during the first quarter worth $39,000. Hedge funds and other institutional investors own 63.41% of the company’s stock.

Shares of GE traded up $0.07 during mid-day trading on Friday, hitting $13.70. 195,437 shares of the company’s stock were exchanged, compared to its average volume of 74,925,711. The company has a market capitalization of $120.27 billion, a P/E ratio of -29.63, a price-to-earnings-growth ratio of 12.71 and a beta of 1.06. General Electric has a fifty-two week low of $5.93 and a fifty-two week high of $14.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.68 and a current ratio of 1.96. The company has a 50-day moving average of $13.45.

General Electric (NYSE:GE) last issued its quarterly earnings results on Monday, April 26th. The conglomerate reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $17.12 billion for the quarter, compared to analysts’ expectations of $17.66 billion. General Electric had a negative net margin of 4.33% and a positive return on equity of 1.53%. The business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. As a group, research analysts predict that General Electric will post 0.26 EPS for the current fiscal year.

A number of research firms have recently issued reports on GE. Cowen reaffirmed a “hold” rating and set a $10.00 target price on shares of General Electric in a report on Thursday, March 11th. Morgan Stanley upped their target price on shares of General Electric from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, March 4th. UBS Group upped their price objective on shares of General Electric from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, April 9th. The Goldman Sachs Group set a $15.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, March 17th. Finally, Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Wednesday, March 17th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.60.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

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

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