Legal General Group Plc Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Legal General Group Plc reduced its stake in General Electric Company by 4.47% during the most recent quarter end. The investment management company now holds a total of 41,965,478 shares of General Electric Company which is valued at $1,213,641,624 after selling 1,963,294 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.General Electric Company makes up approximately 1.25% of Legal General Group Plc’s portfolio.

Other Hedge Funds, Including , North Star Investment Management Corp. boosted its stake in GE in the latest quarter, The investment management firm added 4,791 additional shares and now holds a total of 290,198 shares of General Electric Company which is valued at $8,392,526. General Electric Company makes up approx 1.52% of North Star Investment Management Corp.’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in GE by selling 655,401 shares or 40.57% in the most recent quarter. The Hedge Fund company now holds 960,248 shares of GE which is valued at $27,712,757. General Electric Company makes up approx 0.60% of Oregon Public Employees Retirement Fund’s portfolio.Gillespie Robinson Grimm Inc boosted its stake in GE in the latest quarter, The investment management firm added 1,654 additional shares and now holds a total of 72,838 shares of General Electric Company which is valued at $2,102,105. General Electric Company makes up approx 0.32% of Gillespie Robinson Grimm Inc’s portfolio.Salem Capital Management Inc reduced its stake in GE by selling 1,400 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 230,145 shares of GE which is valued at $6,641,985. General Electric Company makes up approx 3.67% of Salem Capital Management Inc’s portfolio.Jacobs Coca boosted its stake in GE in the latest quarter, The investment management firm added 4,028 additional shares and now holds a total of 264,472 shares of General Electric Company which is valued at $7,632,662. General Electric Company makes up approx 1.71% of Jacobs Coca’s portfolio.

General Electric Company opened for trading at $28.75 and hit $29.03 on the upside on Tuesday, eventually ending the session at $28.92, with a gain of 0.21% or 0.06 points. The heightened volatility saw the trading volume jump to 3,09,42,235 shares. Company has a market cap of $259,159 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.

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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