Berman Capital Advisors LLC trimmed its holdings in General Electric (NYSE:GE) by 60.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,948 shares of the conglomerate’s stock after selling 12,162 shares during the quarter. Berman Capital Advisors LLC’s holdings in General Electric were worth $59,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Beacon Investment Advisory Services Inc. increased its stake in General Electric by 1.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock valued at $447,000 after buying an additional 1,013 shares during the period. BigSur Wealth Management LLC boosted its position in shares of General Electric by 3.4% during the 4th quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 1,048 shares in the last quarter. Ford Financial Group Inc. boosted its position in shares of General Electric by 7.8% during the 4th quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock worth $122,000 after purchasing an additional 1,171 shares in the last quarter. Condor Capital Management boosted its position in shares of General Electric by 3.5% during the 4th quarter. Condor Capital Management now owns 34,901 shares of the conglomerate’s stock worth $264,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Glassman Wealth Services boosted its position in shares of General Electric by 5.0% during the 4th quarter. Glassman Wealth Services now owns 25,002 shares of the conglomerate’s stock worth $189,000 after purchasing an additional 1,195 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Russell Stokes sold 49,904 shares of the business’s 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 sale, the insider now directly owns 265,986 shares in the company, valued at approximately $2,641,240.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is owned by insiders.
General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $27.31 billion. During the same period in the previous year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that General Electric will post 0.61 EPS for the current fiscal year.
GE has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.16 target price (up from $1.06) on shares of General Electric in a research report on Friday, February 1st. Argus upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Royal Bank of Canada boosted their target price on shares of General Electric from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 1st. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Finally, Barclays boosted their target price on shares of General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average target price of $12.18.
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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