Virtu Financial LLC lessened its holdings in General Electric (NYSE:GE) by 74.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,999 shares of the conglomerate’s stock after selling 169,895 shares during the period. Virtu Financial LLC’s holdings in General Electric were worth $528,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GE. Ashburton Jersey Ltd acquired a new position in General Electric in the second quarter worth about $25,000. Venturi Wealth Management LLC bought a new stake in General Electric during the third quarter worth about $25,000. Employers Holdings Inc. bought a new stake in General Electric during the second quarter worth about $28,000. Fusion Family Wealth LLC grew its stake in General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after buying an additional 2,629 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in General Electric by 307,700.0% during the second quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock worth $32,000 after buying an additional 3,077 shares during the last quarter. 60.22% of the stock is owned by hedge funds and other institutional investors.
GE opened at $11.16 on Tuesday. General Electric has a one year low of $6.66 and a one year high of $11.84. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The company’s 50 day simple moving average is $10.43 and its 200-day simple moving average is $9.76. The stock has a market capitalization of $97.47 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17.
Several analysts have weighed in on GE shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 price objective on shares of General Electric in a research note on Wednesday, October 30th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Friday, August 16th. Credit Suisse Group reaffirmed a “hold” rating and set a $10.00 price objective on shares of General Electric in a research note on Monday, November 4th. JPMorgan Chase & Co. set a $5.00 price objective on shares of General Electric and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Barclays reaffirmed a “buy” rating and set a $12.00 price objective on shares of General Electric in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. General Electric presently has an average rating of “Hold” and an average target price of $10.27.
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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