Warren Averett Asset Management Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Warren Averett Asset Management reduced its stake in General Electric Company by 1.83% during the most recent quarter end. The investment management company now holds a total of 27,126 shares of General Electric Company which is valued at $877,797 after selling 507 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.General Electric Company makes up approximately 0.39% of Warren Averett Asset Management’s portfolio.

Other Hedge Funds, Including , Gillespie Robinson Grimm Inc boosted its stake in GE in the latest quarter, The investment management firm added 3,305 additional shares and now holds a total of 71,184 shares of General Electric Company which is valued at $2,303,514. General Electric Company makes up approx 0.36% of Gillespie Robinson Grimm Inc’s portfolio.Abner Herrman Brock boosted its stake in GE in the latest quarter, The investment management firm added 29,308 additional shares and now holds a total of 354,721 shares of General Electric Company which is valued at $11,478,772. General Electric Company makes up approx 2.65% of Abner Herrman Brock’s portfolio.Webster Bank N. A. reduced its stake in GE by selling 30,705 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 910,426 shares of GE which is valued at $29,461,385. General Electric Company makes up approx 4.24% of Webster Bank N. A.’s portfolio.Chevy Chase Trust Holdings reduced its stake in GE by selling 49,281 shares or 0.58% in the most recent quarter. The Hedge Fund company now holds 8,404,953 shares of GE which is valued at $270,639,487. General Electric Company makes up approx 1.49% of Chevy Chase Trust Holdings’s portfolio.M. Kraus Co reduced its stake in GE by selling 1,555 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 122,409 shares of GE which is valued at $3,941,570. General Electric Company makes up approx 2.31% of M. Kraus Co’s portfolio.

General Electric Company opened for trading at $32.89 and hit $32.94 on the upside on Monday, eventually ending the session at $32.91, with a gain of 0.09% or 0.03 points. The heightened volatility saw the trading volume jump to 3,82,65,114 shares. Company has a market cap of $302,629 M.

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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