Norinchukin Bank The boosted its position in General Electric (NYSE:GE) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 729,297 shares of the conglomerate’s stock after buying an additional 12,365 shares during the period. Norinchukin Bank The’s holdings in General Electric were worth $9,576,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GE. Exchange Traded Concepts LLC acquired a new position in General Electric in the first quarter valued at $28,000. TD Ameritrade Investment Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $31,000. Childress Capital Advisors LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $35,000. Inspire Advisors LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $38,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of General Electric during the first quarter valued at about $39,000. Institutional investors and hedge funds own 63.41% of the company’s stock.
Several equities analysts have recently weighed in on GE shares. Cowen reiterated a “hold” rating and set a $10.00 price objective on shares of General Electric in a report on Thursday, March 11th. Credit Suisse Group boosted their target price on shares of General Electric from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 28th. Barclays boosted their target price on shares of General Electric from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 19th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of General Electric in a research report on Friday, May 14th. They set a “buy” rating and a $17.00 target price for the company. Finally, Citigroup assumed coverage on shares of General Electric in a research report on Friday, May 14th. They issued a “buy” rating and a $17.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $14.60.
General Electric (NYSE:GE) last released its earnings results on Monday, April 26th. The conglomerate reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $17.12 billion during the quarter, compared to the consensus estimate of $17.66 billion. General Electric had a negative net margin of 4.33% and a positive return on equity of 1.53%. The company’s revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. As a group, research analysts expect that General Electric will post 0.26 earnings per share for the current fiscal year.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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