GuoLine Advisory Pte Ltd Reduces Stake in General Electric (NYSE:GE)
GuoLine Advisory Pte Ltd lessened its position in General Electric (NYSE:GE – Free Report) by 30.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 259,000 shares of the conglomerate’s stock after selling 114,500 shares during the period. General Electric comprises 5.6% of GuoLine Advisory Pte Ltd’s portfolio, making the stock its 8th largest holding. GuoLine Advisory Pte Ltd’s holdings in General Electric were worth $28,632,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GE. BlackRock Inc. lifted its position in General Electric by 4.4% during the second quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate’s stock valued at $7,742,325,000 after purchasing an additional 2,974,946 shares during the period. FMR LLC lifted its position in General Electric by 5.7% during the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after purchasing an additional 3,463,502 shares during the period. Capital International Investors raised its position in General Electric by 0.3% in the second quarter. Capital International Investors now owns 54,261,585 shares of the conglomerate’s stock worth $5,960,462,000 after acquiring an additional 156,054 shares during the period. State Street Corp raised its position in General Electric by 3.5% in the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock worth $5,515,327,000 after acquiring an additional 1,717,793 shares during the period. Finally, TCI Fund Management Ltd. bought a new position in General Electric in the first quarter worth approximately $2,496,379,000. Institutional investors own 74.83% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of General Electric from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Barclays increased their price target on shares of General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of General Electric in a research report on Wednesday, September 27th. They issued a “buy” rating and a $141.00 price target on the stock. StockNews.com began coverage on shares of General Electric in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Citigroup increased their price objective on shares of General Electric from $135.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $123.86.
Check Out Our Latest Stock Report on General Electric
General Electric Price Performance
GE traded up $0.15 during trading on Thursday, hitting $121.33. 3,701,071 shares of the company traded hands, compared to its average volume of 5,739,503. The company has a market cap of $132.05 billion, a PE ratio of 13.66, a P/E/G ratio of 3.45 and a beta of 1.28. The stock’s 50-day simple moving average is $114.50 and its two-hundred day simple moving average is $111.89. General Electric has a 1 year low of $59.57 and a 1 year high of $123.25. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65.
General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter last year, the business earned $0.35 earnings per share. General Electric’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 2.65 earnings per share for the current fiscal year.
General Electric Profile (Free Report)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
Further Reading
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Original: MarketBeat News Feed: GuoLine Advisory Pte Ltd Reduces Stake in General Electric (NYSE:GE)