Change Path LLC Takes $75,000 Position in General Electric (NYSE:GE)

Change Path LLC bought a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,004 shares of the conglomerate’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bridgeworth LLC lifted its position in General Electric by 534.8% in the third quarter. Bridgeworth LLC now owns 24,460 shares of the conglomerate’s stock worth $240,000 after buying an additional 20,607 shares during the last quarter. Golub Group LLC lifted its position in General Electric by 25.3% in the third quarter. Golub Group LLC now owns 2,820,586 shares of the conglomerate’s stock worth $31,844,000 after buying an additional 568,696 shares during the last quarter. Alambic Investment Management L.P. lifted its position in General Electric by 69.4% in the third quarter. Alambic Investment Management L.P. now owns 79,100 shares of the conglomerate’s stock worth $893,000 after buying an additional 32,400 shares during the last quarter. GFS Advisors LLC lifted its position in General Electric by 3.4% in the third quarter. GFS Advisors LLC now owns 990,408 shares of the conglomerate’s stock worth $11,182,000 after buying an additional 32,130 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in General Electric in the third quarter worth $768,000. 57.91% of the stock is owned by hedge funds and other institutional investors.

Shares of General Electric stock traded down $0.08 on Friday, reaching $10.23. 34,320,276 shares of the stock were exchanged, compared to its average volume of 47,855,876. The company has a quick ratio of 1.50, a current ratio of 1.77 and a debt-to-equity ratio of 1.62. General Electric has a twelve month low of $6.66 and a twelve month high of $14.44. The company has a market capitalization of $89.91 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The company had revenue of $27.29 billion during the quarter, compared to the consensus estimate of $27.31 billion. During the same period in the previous year, the company posted $0.16 earnings per share. General Electric’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts anticipate that General Electric will post 0.61 EPS for the current fiscal year.

A number of analysts recently issued reports on GE shares. Deutsche Bank raised their price target on General Electric from $8.00 to $11.00 and gave the stock a “positive” rating in a research report on Monday, February 25th. They noted that the move was a valuation call. Cowen restated a “hold” rating and issued a $8.00 price target on shares of General Electric in a research report on Tuesday, February 26th. Gabelli reiterated a “buy” rating on shares of General Electric in a research report on Tuesday, February 26th. ValuEngine downgraded General Electric from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Barclays lifted their target price on General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.11.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

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About General Electric

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

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