Aviva PLC Cuts Stake in General Electric Company (GE)
Aviva PLC decreased its holdings in General Electric Company (NYSE:GE) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,046,140 shares of the conglomerate’s stock after selling 76,607 shares during the period. General Electric makes up about 1.1% of Aviva PLC’s holdings, making the stock its 11th biggest holding. Aviva PLC owned approximately 10.36% of General Electric worth $190,386,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Warren Averett Asset Management LLC boosted its position in General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the period. Sabal Trust CO lifted its position in shares of General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock worth $29,198,000 after purchasing an additional 55,049 shares during the period. Rockland Trust Co. lifted its position in shares of General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after purchasing an additional 16,309 shares during the period. Stoneridge Investment Partners LLC lifted its position in shares of General Electric by 23.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 325,787 shares of the conglomerate’s stock worth $8,800,000 after purchasing an additional 61,746 shares during the period. Finally, Rothschild Investment Corp IL lifted its position in shares of General Electric by 2.4% in the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock worth $12,569,000 after purchasing an additional 10,906 shares during the period. 55.74% of the stock is owned by institutional investors.
GE has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price on shares of General Electric in a research report on Thursday, October 12th. J P Morgan Chase & Co dropped their target price on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, November 1st. Vetr raised shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 target price for the company in a research report on Tuesday, October 10th. Citigroup set a $25.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.31.
General Electric Company (NYSE:GE) opened at $17.92 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market cap of $155,056.88, a PE ratio of 14.42, a P/E/G ratio of 1.94 and a beta of 1.06. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. analysts anticipate that General Electric Company will post 1.07 earnings per share for the current year.
In other news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by company insiders.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/12/04/aviva-plc-cuts-stake-in-general-electric-company-ge.html.
General Electric Company Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.