Telemus Capital LLC lowered its stake in shares of General Electric Co. (NYSE:GE) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,788 shares of the company’s stock after selling 4,954 shares during the period. Telemus Capital LLC’s holdings in General Electric were worth $1,712,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Nadler Financial Group Inc. boosted its stake in shares of General Electric by 0.6% in the second quarter. Nadler Financial Group Inc. now owns 34,251 shares of the company’s stock worth $1,078,000 after buying an additional 201 shares in the last quarter. West Oak Capital LLC boosted its stake in shares of General Electric by 0.6% in the second quarter. West Oak Capital LLC now owns 61,085 shares of the company’s stock worth $1,923,000 after buying an additional 379 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in shares of General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock worth $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. bought a new stake in shares of General Electric during the second quarter worth $11,436,000. Finally, Howland Capital Management LLC boosted its stake in shares of General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares in the last quarter. 55.46% of the stock is owned by institutional investors.
Shares of General Electric Co. (NYSE:GE) traded up 0.32% on Friday, hitting $31.44. The stock had a trading volume of 13,162,239 shares. General Electric Co. has a 52 week low of $27.10 and a 52 week high of $33.00. The stock’s 50-day moving average price is $29.53 and its 200 day moving average price is $30.43. The company has a market cap of $278.13 billion, a PE ratio of 27.03 and a beta of 1.20.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 21st. The company reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.64 billion. General Electric had a return on equity of 16.08% and a net margin of 8.93%. General Electric’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. On average, analysts predict that General Electric Co. will post $1.49 EPS for the current year.
Several equities research analysts have commented on GE shares. Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Monday, October 24th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $32.72 price target on the stock. in a research report on Monday, October 31st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $26.00 price target on shares of General Electric in a research report on Thursday, August 11th. RBC Capital Markets set a $36.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Finally, Goldman Sachs Group Inc. set a $30.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Monday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.56.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $29.24 per share, with a total value of $1,462,000.00. Following the completion of the transaction, the chairman now directly owns 2,248,688 shares in the company, valued at approximately $65,751,637.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.
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