Reynders McVeigh Capital Management LLC Decreases Stock Position in General Electric (NYSE:GE)

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Reynders McVeigh Capital Management LLC lessened its stake in General Electric (NYSE:GE) by 24.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,167 shares of the conglomerate’s stock after selling 5,483 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in General Electric were worth $180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA raised its position in shares of General Electric by 0.4% during the 2nd quarter. CHICAGO TRUST Co NA now owns 249,228 shares of the conglomerate’s stock valued at $2,617,000 after acquiring an additional 992 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in shares of General Electric by 1.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock valued at $447,000 after acquiring an additional 1,013 shares in the last quarter. Evanson Asset Management LLC raised its position in shares of General Electric by 5.6% during the 2nd quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock valued at $205,000 after acquiring an additional 1,029 shares in the last quarter. Cetera Investment Advisers raised its position in shares of General Electric by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock valued at $818,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Monarch Capital Management Inc. raised its position in shares of General Electric by 0.7% during the 2nd quarter. Monarch Capital Management Inc. now owns 165,752 shares of the conglomerate’s stock valued at $1,740,000 after acquiring an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 58.85% of the company’s stock.

In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $9.04 per share, with a total value of $2,998,423.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas S. Timko purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $8.83 per share, with a total value of $88,300.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 794,568 shares of company stock valued at $6,904,045. Company insiders own 1.13% of the company’s stock.

GE has been the topic of several research reports. Zacks Investment Research lowered General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Friday, August 2nd. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a research report on Friday, August 16th. William Blair reissued a “buy” rating on shares of General Electric in a research report on Friday, August 16th. ValuEngine lowered General Electric from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Deutsche Bank set a $10.00 price target on General Electric and gave the company a “hold” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.68.

GE traded down $0.22 during trading on Friday, reaching $7.97. 118,549,454 shares of the company were exchanged, compared to its average volume of 101,013,968. The stock has a market cap of $71.47 billion, a P/E ratio of 12.26, a PEG ratio of 1.77 and a beta of 1.03. The firm has a 50 day moving average of $9.75 and a 200 day moving average of $9.91. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. General Electric has a 52 week low of $6.66 and a 52 week high of $13.78.

General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. As a group, analysts forecast that General Electric will post 0.64 earnings per share for the current fiscal year.

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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