Utah Retirement Systems Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Utah Retirement Systems reduced its stake in General Electric Company by 0.41% during the most recent quarter end. The investment management company now holds a total of 1,686,336 shares of General Electric Company which is valued at $52,495,640 after selling 6,900 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.General Electric Company makes up approximately 1.36% of Utah Retirement Systems’s portfolio.

Other Hedge Funds, Including , Wall Street Access Asset Management reduced its stake in GE by selling 6,421 shares or 21.74% in the most recent quarter. The Hedge Fund company now holds 23,119 shares of GE which is valued at $719,694. General Electric Company makes up approx 0.42% of Wall Street Access Asset Management’s portfolio.Johnston Asset Management reduced its stake in GE by selling 33,800 shares or 4.39% in the most recent quarter. The Hedge Fund company now holds 735,837 shares of GE which is valued at $23,016,981. General Electric Company makes up approx 1.10% of Johnston Asset Management’s portfolio.Terra Nova Asset Management reduced its stake in GE by selling 1,810 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 38,525 shares of GE which is valued at $1,205,062. General Electric Company makes up approx 2.00% of Terra Nova Asset Management’s portfolio.Capital Investment Advisors boosted its stake in GE in the latest quarter, The investment management firm added 4,222 additional shares and now holds a total of 198,245 shares of General Electric Company which is valued at $6,355,735. General Electric Company makes up approx 0.58% of Capital Investment Advisors’s portfolio.

General Electric Company closed down -0.01 points or -0.03% at $31.27 with 2,04,34,126 shares getting traded on Monday. Post opening the session at $31.3, the shares hit an intraday low of $31.21 and an intraday high of $31.395 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, General Electric Company reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.46. The company had revenue of $33494.00 million for the quarter, compared to analysts expectations of $31573.67 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on General Electric Company. Standpoint Research Initiated General Electric Company on Jul 22, 2016 to “Sell”, Price Target of the shares are set at $26.Cowen Initiated General Electric Company on Jun 7, 2016 to “Market Perform”, Price Target of the shares are set at $29.General Electric Company was Resumed by JP Morgan to “Underweight” on May 12, 2016.

General Electric Company (GE) is a diversified infrastructure and financial services company. The products and services of the Company range from aircraft engines power generation oil and gas production equipment and household appliances to medical imaging business and consumer financing and industrial products. The Company operates its segments through its eight businesses -based on the markets they serve: Power & Water Oil & Gas Energy Management Aviation Healthcare Transportation Appliances and Lighting and GE Capital. GE Capital operates the following businesses: Commercial Lending and Leasing Consumer Real Estate Energy Financial Services and GE Capital Aviation Services. The Company operates in approximately 175 countries.

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