Mechanics Bank Trust Department Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Mechanics Bank Trust Department reduced its stake in General Electric Company by 2.1% during the most recent quarter end. The investment management company now holds a total of 148,071 shares of General Electric Company which is valued at $4,853,767 after selling 3,170 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.General Electric Company makes up approximately 1.74% of Mechanics Bank Trust Department’s portfolio.

Other Hedge Funds, Including , Stralem Co Inc reduced its stake in GE by selling 96,500 shares or 10.09% in the most recent quarter. The Hedge Fund company now holds 859,533 shares of GE which is valued at $28,175,492. General Electric Company makes up approx 3.18% of Stralem Co Inc’s portfolio.Elm Advisors boosted its stake in GE in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 19,811 shares of General Electric Company which is valued at $641,084. General Electric Company makes up approx 0.59% of Elm Advisors’s portfolio.Stillwater Capital Advisors boosted its stake in GE in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 404,754 shares of General Electric Company which is valued at $13,097,839. General Electric Company makes up approx 3.81% of Stillwater Capital Advisors’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in GE in the latest quarter, The investment management firm added 108,523 additional shares and now holds a total of 2,380,298 shares of General Electric Company which is valued at $76,645,596. General Electric Company makes up approx 1.60% of Exxonmobil Investment Management Inc Tx’s portfolio.Summit Financial Wealth Advisors reduced its stake in GE by selling 795 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 103,891 shares of GE which is valued at $3,345,290. General Electric Company makes up approx 1.38% of Summit Financial Wealth Advisors’s portfolio.

General Electric Company closed down -0.15 points or -0.46% at $32.78 with 3,55,57,794 shares getting traded on Wednesday. Post opening the session at $32.96, the shares hit an intraday low of $32.7 and an intraday high of $33 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. Cowen Initiated General Electric Company on Jun 7, 2016 to “Market Perform”, Price Target of the shares are set at $29.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 .

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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