General Electric Company (GE) loses confidence of 130 hedge fund managers

General Electric Company (NYSE:GE) is on recovery track with 0.8% gain from a 1-year low price of $11.21. The company lost -4.24% to attain the price of $11.3 on 10/26/2018. Throughout the recent session, the prices were hovering between $11.17 and $11.6458. These shares are 39.38% off its target price of $15.75 and the current market capitalization stands at $102.55B. The recent change has given its price a -9.3% deficit over SMA 50 and -47.81% deficit over its 52-week high. The stock witnessed -1.99% declines, -14.13% declines and -19.69% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found GE’s volatility during a week at 4.5% and during a month it has been found around 4.01%.

General Electric Company (GE) Top Holders

Institutional investors currently hold around $53.72 billion or 55.8% in GE stock. Look at its top three institutional owners. Vanguard Group Inc owns $7.12 billion in General Electric Company, which represents roughly 6.94% of the company’s market cap and approximately 13.25% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 542,725,917 shares of the stock are valued at $6.13 billion. The third largest holder is State Street Corp, which currently holds $3.69 billion worth of this stock and that ownership represents nearly 3.6% of its market capitalization.

General Electric Company 13F Filings

At the end of June reporting period, 725 institutional holders increased their position in General Electric Company (NYSE:GE) by some 379,146,804 shares, 1,170 decreased positions by 392,317,623 and 174 held positions by 3,983,000,000. That puts total institutional holdings at 4,754,000,000 shares, according to SEC filings. The stock grabbed 109 new institutional investments totaling 91,502,423 shares while 130 institutional investors sold out their entire positions totaling 22,826,475 shares.

General Electric Company (NYSE:GE) Insider Trades

Multiple company employees have indulged in significant insider trading. General Electric Company disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Culp H Lawrence Jr has acquired 191,000 shares of General Electric Company (GE) in trading session dated Jul. 24, 2018. These shares are worth $2,490,640 and were traded at $13.04 each. The SEC filing shows that Dimitrief Alexander performed a purchase of 2,689 shares. The Senior Vice President added these shares by way of transaction on Jan. 29, 2018. The company’s shares were assimilated at $16.16 per share worth to an investment of some $43,454 on account of Dimitrief Alexander.

Director, Tisch James S, purchased 3,000,000 common shares of General Electric Company (GE) in the open market. In a transaction dated Nov. 21, 2017, the shares were bought at an average price of $17.9, giving away a sum of $53,700,000. After this purchase, 3,540,000 common shares of GE are directly owned by the insider, with total stake valued at $40,002,000.

In the transaction dated Nov. 20, 2017, the great number of shares acquired came courtesy the Director; Dsouza Francisco added a total of 55,000 shares at an average price of $17.94, amounting to approximately $986,700. The insider now directly owns 91,500 shares worth $1,033,950.

General Electric Company (GE) Analyst Guide

Several analysts have released their opinion on General Electric Company (NYSE:GE), with 3 analysts believing it is a strong buy. Whereas 9 of them predict the stock is a hold. Also, there are 3 buy, 1 sell and 1 strong sell ratings, collectively assigning a 2.65 average brokerage recommendation.