Wellington Shields buys $3.6 Million stake in General Electric Company (GE)

General Electric Company (GE) : Wellington Shields scooped up 2,368 additional shares in General Electric Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 26, 2016. The investment management firm now holds a total of 118,984 shares of General Electric Company which is valued at $3.6 Million.General Electric Company makes up approximately 2.34% of Wellington Shields’s portfolio.

Other Hedge Funds, Including , Bangor Savings Bank reduced its stake in GE by selling 2,580 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 120,474 shares of GE which is valued at $3.6 Million. General Electric Company makes up approx 0.89% of Bangor Savings Bank’s portfolio.Lomas Capital Management reduced its stake in GE by selling 18,308 shares or 2.24% in the most recent quarter. The Hedge Fund company now holds 797,892 shares of GE which is valued at $23.6 Million. General Electric Company makes up approx 5.68% of Lomas Capital Management’s portfolio.Interocean Capital reduced its stake in GE by selling 13,213 shares or 15.83% in the most recent quarter. The Hedge Fund company now holds 70,235 shares of GE which is valued at $2.1 Million. General Electric Company makes up approx 0.56% of Interocean Capital’s portfolio.Aureus Asset Management reduced its stake in GE by selling 21,029 shares or 39.92% in the most recent quarter. The Hedge Fund company now holds 31,647 shares of GE which is valued at $938,017. General Electric Company makes up approx 0.21% of Aureus Asset Management’s portfolio.Gardner Lewis Asset Management L P reduced its stake in GE by selling 3,268 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 134,507 shares of GE which is valued at $4 Million. General Electric Company makes up approx 1.15% of Gardner Lewis Asset Management L P’s portfolio.

General Electric Company closed down -0.12 points or -0.40% at $30.11 with 2,11,26,650 shares getting traded on Wednesday. Post opening the session at $30.04, the shares hit an intraday low of $29.89 and an intraday high of $30.14 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. General Electric Company was Resumed by JP Morgan to “Underweight” on May 12, 2016. Company shares were Reiterated by UBS on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .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 .

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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