Fort Pitt Capital Group Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Fort Pitt Capital Group reduced its stake in General Electric Company by 1.32% during the most recent quarter end. The investment management company now holds a total of 1,000,968 shares of General Electric Company which is valued at $30,789,776 after selling 13,428 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.General Electric Company makes up approximately 3.75% of Fort Pitt Capital Group’s portfolio.

General Electric Company closed down -0.22 points or -0.71% at $30.76 with 5,64,97,503 shares getting traded on Friday. Post opening the session at $31.03, the shares hit an intraday low of $30.31 and an intraday high of $31.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Beacon Capital Management reduced its stake in GE by selling 13 shares or 2.9% in the most recent quarter. The Hedge Fund company now holds 436 shares of GE which is valued at $13,411.Highland Capital Management boosted its stake in GE in the latest quarter, The investment management firm added 159,192 additional shares and now holds a total of 501,364 shares of General Electric Company which is valued at $15,557,325. General Electric Company makes up approx 1.32% of Highland Capital Management’s portfolio. Round Table Services added GE to its portfolio by purchasing 7,082 company shares during the most recent quarter which is valued at $219,754. General Electric Company makes up approx 0.14% of Round Table Services’s portfolio.Palisade Asset Management boosted its stake in GE in the latest quarter, The investment management firm added 8,207 additional shares and now holds a total of 373,452 shares of General Electric Company which is valued at $11,588,216. General Electric Company makes up approx 2.25% of Palisade Asset Management’s portfolio. Mcnamara Financial Services sold out all of its stake in GE during the most recent quarter. The investment firm sold 62,101 shares of GE which is valued $1,926,994.

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. 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 was Downgraded by Berenberg to ” Hold” 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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