General Electric (GE) Shares Bought by Avenir Corp

Avenir Corp grew its stake in shares of General Electric (NYSE:GE) by 21.8% during the 4th quarter, HoldingsChannel reports. The fund owned 16,050 shares of the conglomerate’s stock after acquiring an additional 2,873 shares during the period. Avenir Corp’s holdings in General Electric were worth $121,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in General Electric by 250.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in General Electric during the 4th quarter worth $27,000. Edge Wealth Management LLC lifted its position in General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 1,300 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in General Electric during the 4th quarter worth $41,000. Finally, NuWave Investment Management LLC lifted its position in General Electric by 170.3% during the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock worth $46,000 after acquiring an additional 3,790 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

A number of research analysts have weighed in on GE shares. Argus raised shares of General Electric from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. William Blair reissued a “buy” rating on shares of General Electric in a research report on Saturday, February 2nd. Gabelli reissued a “buy” rating on shares of General Electric in a research report on Tuesday, February 26th. Royal Bank of Canada reissued a “buy” rating and set a $12.00 target price on shares of General Electric in a research report on Wednesday, March 6th. Finally, Cowen reissued a “hold” rating and set a $8.00 target price on shares of General Electric in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.18.

Shares of GE opened at $10.00 on Monday. The stock has a market cap of $86.83 billion, a PE ratio of 15.38, a P/E/G ratio of 2.27 and a beta of 0.99. 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.

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

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

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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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