Oarsman Capital Inc. Reduces Holdings in General Electric (NYSE:GE)

Oarsman Capital Inc. trimmed its stake in General Electric (NYSE:GEGet Rating) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,647 shares of the conglomerate’s stock after selling 2,150 shares during the period. Oarsman Capital Inc.’s holdings in General Electric were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Missouri Trust & Investment Co purchased a new position in General Electric during the 4th quarter worth $27,000. Benjamin Edwards Inc. grew its position in General Electric by 325.0% during the 4th quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Bell Investment Advisors Inc purchased a new position in General Electric during the 3rd quarter worth $32,000. Emerson Wealth LLC purchased a new position in General Electric during the 4th quarter worth $32,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in General Electric during the 4th quarter worth $32,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a research report on Monday, March 7th. Bank of America reduced their target price on shares of General Electric from $132.00 to $120.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $118.00 to $107.00 in a research note on Wednesday, April 27th. StockNews.com initiated coverage on shares of General Electric in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Barclays reduced their target price on shares of General Electric from $115.00 to $100.00 in a research note on Friday, April 29th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $117.69.

GE traded up $1.77 during midday trading on Friday, reaching $75.05. 5,176,944 shares of the company’s stock were exchanged, compared to its average volume of 7,875,475. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a market capitalization of $82.61 billion, a PE ratio of -16.39, a P/E/G ratio of 3.57 and a beta of 1.02. The business’s 50-day moving average price is $87.65 and its 200 day moving average price is $94.49. General Electric has a 1-year low of $71.14 and a 1-year high of $116.17.

General Electric (NYSE:GEGet Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $17.04 billion during the quarter, compared to analysts’ expectations of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, analysts expect that General Electric will post 2.9 EPS for the current fiscal year.

In related news, major shareholder Electric Co General sold 72,025,826 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the sale, the insider now directly owns 3,931,363 shares in the company, valued at $135,435,455.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paula Rosput Reynolds purchased 1,200 shares of General Electric stock in a transaction on Friday, May 6th. The shares were acquired at an average cost of $77.65 per share, for a total transaction of $93,180.00. Following the completion of the transaction, the director now owns 5,563 shares of the company’s stock, valued at $431,966.95. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 69,801 shares of company stock valued at $5,207,705. Insiders own 0.70% of the company’s stock.

General Electric Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

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

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