Somerset Group buys $2,000,186 stake in General Electric Company (GE)

General Electric Company (GE) : Somerset Group scooped up 500 additional shares in General Electric Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 63,965 shares of General Electric Company which is valued at $2,000,186.General Electric Company makes up approximately 2.02% of Somerset Group’s portfolio.

Other Hedge Funds, Including , Cabot-wellington sold out all of its stake in GE during the most recent quarter. The investment firm sold 23,450 shares of GE which is valued $733,751.Rathbone Brothers Plc boosted its stake in GE in the latest quarter, The investment management firm added 6,432 additional shares and now holds a total of 1,287,174 shares of General Electric Company which is valued at $40,069,727. General Electric Company makes up approx 2.16% of Rathbone Brothers Plc’s portfolio.Inspirion Wealth Advisors boosted its stake in GE in the latest quarter, The investment management firm added 878 additional shares and now holds a total of 59,534 shares of General Electric Company which is valued at $1,853,293. General Electric Company makes up approx 1.17% of Inspirion Wealth Advisors’s portfolio.David R. Rahn Associates reduced its stake in GE by selling 275 shares or 0.96% in the most recent quarter. The Hedge Fund company now holds 28,397 shares of GE which is valued at $888,258. General Electric Company makes up approx 0.68% of David R. Rahn Associates’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.

General Electric Company opened for trading at $31.26 and hit $31.325 on the upside on Wednesday, eventually ending the session at $31.29, with a gain of 0.32% or 0.1 points. The heightened volatility saw the trading volume jump to 1,75,98,105 shares. Company has a market cap of $280,397 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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