Appleton Partners Inc. MA reduced its position in shares of General Electric Company (NYSE:GE) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 245,924 shares of the conglomerate’s stock after selling 20,358 shares during the period. General Electric makes up approximately 1.3% of Appleton Partners Inc. MA’s portfolio, making the stock its 14th largest position. Appleton Partners Inc. MA’s holdings in General Electric were worth $7,329,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GE. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter worth approximately $2,383,193,000. Teachers Advisors LLC increased its stake in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock worth $161,524,000 after buying an additional 1,591,790 shares in the last quarter. Dodge & Cox purchased a new stake in shares of General Electric during the fourth quarter worth approximately $46,414,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of General Electric by 134.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock worth $64,118,000 after buying an additional 1,234,776 shares in the last quarter. 54.31% of the stock is currently owned by institutional investors.
General Electric Company (GE) traded up 0.78% during mid-day trading on Friday, hitting $24.49. 22,867,795 shares of the stock traded hands. General Electric Company has a 1-year low of $24.30 and a 1-year high of $32.38. The stock has a 50-day moving average of $25.62 and a 200 day moving average of $28.15. The firm has a market cap of $212.03 billion, a price-to-earnings ratio of 29.83 and a beta of 1.21.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.57 EPS for the current year.
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GE has been the topic of a number of recent analyst reports. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the company a “sell” rating in a research report on Monday, May 29th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective on the stock. in a research report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $33.00 price objective on shares of General Electric in a research report on Saturday, July 22nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.08.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now directly owns 175,717 shares in the company, valued at $4,507,141.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction on Monday, July 24th. The shares were bought at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. Insiders have acquired 233,253 shares of company stock valued at $5,860,264 over the last quarter. Corporate insiders own 0.36% of the company’s stock.
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