Eagle Ridge Investment Management Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Eagle Ridge Investment Management reduced its stake in General Electric Company by 3.31% during the most recent quarter end. The investment management company now holds a total of 35,016 shares of General Electric Company which is valued at $1,077,092 after selling 1,200 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.General Electric Company makes up approximately 0.25% of Eagle Ridge Investment Management’s portfolio.

General Electric Company opened for trading at $30.94 and hit $31.01 on the upside on Wednesday, eventually ending the session at $30.93, with a gain of 0.10% or 0.03 points. The heightened volatility saw the trading volume jump to 2,29,43,908 shares. Company has a market cap of $288,596 M.

Other Hedge Funds, Including , Mizuho Securities Usa sold out all of its stake in GE during the most recent quarter. The investment firm sold 136,300 shares of GE which is valued $4,192,588.Asset Advisors Corp reduced its stake in GE by selling 3,776 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 292,420 shares of GE which is valued at $8,994,839. General Electric Company makes up approx 1.93% of Asset Advisors Corp’s portfolio.Stokes Hubbell Capital Management boosted its stake in GE in the latest quarter, The investment management firm added 7,608 additional shares and now holds a total of 101,402 shares of General Electric Company which is valued at $3,119,126. General Electric Company makes up approx 1.42% of Stokes Hubbell Capital Management’s portfolio.Piershale Financial Group boosted its stake in GE in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 4,107 shares of General Electric Company which is valued at $127,440. General Electric Company makes up approx 0.08% of Piershale Financial Group’s portfolio.

On the company’s financial health, General Electric Company reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $0.19. The company had revenue of $27597.00 million for the quarter, compared to analysts expectations of $27966.34 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on General Electric Company. Shares were Reiterated by Stifel on Apr 26, 2016 to “Buy” and Lowered the Price Target to $ 34 from a previous price target of $36 .Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .General Electric Company was Downgraded by Bernstein to ” Mkt Perform” on Apr 4, 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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