Chilton Capital Management LLC Reduces Stake in General Electric (GE)

Chilton Capital Management LLC cut its stake in General Electric (NYSE:GE) by 18.0% during the fourth quarter, Holdings Channel reports. The fund owned 22,201 shares of the conglomerate’s stock after selling 4,875 shares during the quarter. Chilton Capital Management LLC’s holdings in General Electric were worth $168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in General Electric by 0.8% during the fourth quarter. CIBC Asset Management Inc now owns 790,372 shares of the conglomerate’s stock worth $5,983,000 after buying an additional 5,984 shares during the last quarter. Grand Jean Capital Management Inc. acquired a new position in General Electric during the fourth quarter worth $139,000. Masters Capital Management LLC acquired a new position in General Electric during the fourth quarter worth $15,140,000. Employees Retirement System of Texas increased its position in General Electric by 63.5% during the fourth quarter. Employees Retirement System of Texas now owns 1,458,178 shares of the conglomerate’s stock worth $11,038,000 after buying an additional 566,526 shares during the last quarter. Finally, Fiera Capital Corp increased its position in General Electric by 3.8% during the fourth quarter. Fiera Capital Corp now owns 49,517 shares of the conglomerate’s stock worth $375,000 after buying an additional 1,800 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

GE stock opened at $10.13 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a 52-week low of $6.66 and a 52-week high of $15.59. The stock has a market cap of $87.91 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.24 and a beta of 0.99.

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

In related news, insider Russell Stokes sold 49,904 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now owns 265,986 shares in the company, valued at $2,641,240.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.13% of the stock is currently owned by company insiders.

Several research firms have commented on GE. Deutsche Bank set a $10.00 target price on shares of General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Cowen restated a “hold” rating and set a $8.00 price target on shares of General Electric in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut shares of General Electric from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $6.00 to $5.00 in a report on Monday, April 8th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average price target of $12.33.

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

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