Evercore Wealth Management Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Evercore Wealth Management reduced its stake in General Electric Company by 1.23% during the most recent quarter end. The investment management company now holds a total of 396,426 shares of General Electric Company which is valued at $12,340,741 after selling 4,917 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.General Electric Company makes up approximately 0.53% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , Private Harbour Investment Management Counsel reduced its stake in GE by selling 425 shares or 0.51% in the most recent quarter. The Hedge Fund company now holds 82,570 shares of GE which is valued at $2,570,404. General Electric Company makes up approx 2.07% of Private Harbour Investment Management Counsel’s portfolio.Rs Investment Management Co boosted its stake in GE in the latest quarter, The investment management firm added 2,955 additional shares and now holds a total of 1,090,981 shares of General Electric Company which is valued at $34,125,886. General Electric Company makes up approx 0.33% of Rs Investment Management Co’s portfolio.Spc Financial reduced its stake in GE by selling 400 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 42,420 shares of GE which is valued at $1,359,985. General Electric Company makes up approx 0.47% of Spc Financial’s portfolio.Bremer Trust National Association boosted its stake in GE in the latest quarter, The investment management firm added 838 additional shares and now holds a total of 73,080 shares of General Electric Company which is valued at $2,342,945. General Electric Company makes up approx 0.63% of Bremer Trust National Association’s portfolio.Capital One National Association boosted its stake in GE in the latest quarter, The investment management firm added 4,107 additional shares and now holds a total of 331,682 shares of General Electric Company which is valued at $10,872,536. General Electric Company makes up approx 0.87% of Capital One National Association’s portfolio.

General Electric Company opened for trading at $31.2 and hit $31.25 on the upside on Thursday, eventually ending the session at $31.17, with a gain of 0.13% or 0.04 points. The heightened volatility saw the trading volume jump to 2,02,93,694 shares. Company has a market cap of $279,322 M.

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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