Change Path LLC Purchases New Stake in General Electric (GE)
Change Path LLC purchased a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,004 shares of the conglomerate’s stock, valued at approximately $75,000.
A number of other hedge funds have also modified their holdings of GE. Mackay Shields LLC lifted its position in shares of General Electric by 0.4% during the 4th quarter. Mackay Shields LLC now owns 1,507,695 shares of the conglomerate’s stock worth $11,413,000 after purchasing an additional 6,164 shares during the last quarter. Fairfax Financial Holdings Ltd Can lifted its position in shares of General Electric by 29.7% during the 4th quarter. Fairfax Financial Holdings Ltd Can now owns 1,390,900 shares of the conglomerate’s stock worth $10,529,000 after purchasing an additional 318,200 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of General Electric by 100.4% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 2,101 shares during the last quarter. Financial Advisors LLC purchased a new stake in shares of General Electric during the 4th quarter worth $346,000. Finally, DDD Partners LLC purchased a new stake in shares of General Electric during the 4th quarter worth $1,174,000. 58.60% of the stock is owned by institutional investors.
Shares of NYSE:GE opened at $9.56 on Friday. General Electric has a 12 month low of $6.66 and a 12 month high of $14.72. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62. The firm has a market cap of $86.48 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.26 and a beta of 0.99.
Several research firms have recently issued reports on GE. Deutsche Bank lifted their price objective on shares of 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 reaffirmed a “hold” rating and set a $8.00 price objective on shares of General Electric in a research report on Tuesday, February 26th. Gabelli reaffirmed a “buy” rating on shares of General Electric in a research report on Tuesday, February 26th. Bank of America reiterated a “hold” rating and set a $11.00 price target on shares of General Electric in a research note on Thursday, January 31st. Finally, Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Two equities 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.11.
In other General Electric news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the transaction, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.13% of the company’s stock.
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General Electric Profile
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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