New York State Teachers Retirement System Lowers stake in General Electric Company (GE)

General Electric Company (GE) : New York State Teachers Retirement System reduced its stake in General Electric Company by 2.11% during the most recent quarter end. The investment management company now holds a total of 17,740,097 shares of General Electric Company which is valued at $568,747,510 after selling 382,580 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.General Electric Company makes up approximately 1.44% of New York State Teachers Retirement System’s portfolio.

Other Hedge Funds, Including , Granite Investment Advisors boosted its stake in GE in the latest quarter, The investment management firm added 1,658 additional shares and now holds a total of 460,893 shares of General Electric Company which is valued at $14,776,230. General Electric Company makes up approx 2.91% of Granite Investment Advisors’s portfolio.Private Trust Co Na boosted its stake in GE in the latest quarter, The investment management firm added 13,863 additional shares and now holds a total of 220,231 shares of General Electric Company which is valued at $7,219,172. General Electric Company makes up approx 1.83% of Private Trust Co Na’s portfolio.Eqis Capital Management reduced its stake in GE by selling 11,194 shares or 39.03% in the most recent quarter. The Hedge Fund company now holds 17,486 shares of GE which is valued at $575,464. General Electric Company makes up approx 0.04% of Eqis Capital Management’s portfolio.Denali Advisors boosted its stake in GE in the latest quarter, The investment management firm added 20,300 additional shares and now holds a total of 62,525 shares of General Electric Company which is valued at $2,057,698. General Electric Company makes up approx 0.34% of Denali Advisors’s portfolio.Stokes Hubbell Capital Management boosted its stake in GE in the latest quarter, The investment management firm added 1,386 additional shares and now holds a total of 102,788 shares of General Electric Company which is valued at $3,309,774. General Electric Company makes up approx 1.41% of Stokes Hubbell Capital Management’s portfolio.

General Electric Company closed down -0.11 points or -0.35% at $31.14 with 5,00,52,182 shares getting traded on Friday. Post opening the session at $31.28, the shares hit an intraday low of $31.111 and an intraday high of $31.4264 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *