Blue Edge Capital LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Blue Edge Capital LLC decreased its holdings in shares of General Electric (NYSE:GE) by 5.9% in the 1st quarter, Holdings Channel reports. The firm owned 57,853 shares of the conglomerate’s stock after selling 3,600 shares during the period. Blue Edge Capital LLC’s holdings in General Electric were worth $760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of General Electric during the first quarter worth about $28,000. TD Ameritrade Investment Management LLC purchased a new position in shares of General Electric during the fourth quarter worth about $31,000. Childress Capital Advisors LLC purchased a new position in shares of General Electric during the fourth quarter worth about $35,000. Inspire Advisors LLC purchased a new stake in General Electric in the fourth quarter worth approximately $38,000. Finally, Atlas Capital Advisors LLC purchased a new stake in General Electric in the first quarter worth approximately $39,000. 63.41% of the stock is owned by institutional investors.

Shares of NYSE GE traded up $0.01 during trading on Friday, reaching $13.64. The company had a trading volume of 233,644 shares, compared to its average volume of 74,925,711. General Electric has a 12-month low of $5.93 and a 12-month high of $14.41. The stock has a market cap of $119.74 billion, a PE ratio of -29.63, a PEG ratio of 12.71 and a beta of 1.06. The business’s 50-day moving average is $13.45. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.68 and a current ratio of 1.96.

General Electric (NYSE:GE) last released its quarterly earnings data on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. General Electric had a positive return on equity of 1.53% and a negative net margin of 4.33%. The company had revenue of $17.12 billion for the quarter, compared to analysts’ expectations of $17.66 billion. During the same period last year, the firm posted $0.05 earnings per share. General Electric’s revenue was down 16.6% compared to the same quarter last year. Research analysts forecast that General Electric will post 0.26 EPS for the current year.

Several brokerages have issued reports on GE. UBS Group upped their target price on General Electric from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, April 9th. Cowen reaffirmed a “hold” rating and issued a $10.00 target price on shares of General Electric in a research note on Thursday, March 11th. Morgan Stanley upped their target price on General Electric from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, March 4th. Royal Bank of Canada upped their target price on General Electric from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on General Electric in a research note on Friday, May 14th. They issued a “buy” rating and a $17.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.60.

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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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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