Renaissance Investment Group Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Renaissance Investment Group reduced its stake in General Electric Company by 0.25% during the most recent quarter end. The investment management company now holds a total of 78,788 shares of General Electric Company which is valued at $2.5 Million after selling 200 shares in General Electric Company according to a report filed by the company on Apr 1, 2016 with the SEC.General Electric Company makes up approximately 1.26% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in GE in the latest quarter, The investment management firm added 254,514 additional shares and now holds a total of 340,017 shares of General Electric Company which is valued at $10.9 Million. General Electric Company makes up approx 2.35% of Beacon Financial Group’s portfolio.

On the company’s financial health, General Electric Company reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 22, 2016. Analyst had a consensus of $0.49. The company had revenue of $33839.00 million for the quarter, compared to analysts expectations of $35907.16 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on General Electric Company. General Electric Company was Downgraded by Bernstein to ” Mkt Perform” on Apr 4, 2016. General Electric Company was Downgraded by Berenberg to ” Hold” on Apr 4, 2016. Shares were Reiterated by RBC Capital Mkts on Jan 25, 2016 to “Outperform” and Lowered the Price Target to $ 33 from a previous price target of $34 .

General Electric Company closed down -0.08 points or -0.26% at $30.71 with 2,51,26,508 shares getting traded on Monday. Post opening the session at $30.83, the shares hit an intraday low of $30.71 and an intraday high of $31 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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