Wedbush Securities Inc Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Wedbush Securities Inc reduced its stake in General Electric Company by 2.56% during the most recent quarter end. The investment management company now holds a total of 318,630 shares of General Electric Company which is valued at $9,918,952 after selling 8,378 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.General Electric Company makes up approximately 1.62% of Wedbush Securities Inc’s portfolio.

Other Hedge Funds, Including , Oxbow Advisors reduced its stake in GE by selling 627 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 71,310 shares of GE which is valued at $2,219,880. General Electric Company makes up approx 0.31% of Oxbow Advisors’s portfolio.Chemung Canal Trust Co reduced its stake in GE by selling 31,838 shares or 4.82% in the most recent quarter. The Hedge Fund company now holds 629,215 shares of GE which is valued at $19,593,755. General Electric Company makes up approx 4.52% of Chemung Canal Trust Co’s portfolio.Strategic Advisors boosted its stake in GE in the latest quarter, The investment management firm added 6,697 additional shares and now holds a total of 214,362 shares of General Electric Company which is valued at $7,026,786. General Electric Company makes up approx 3.95% of Strategic Advisors’s portfolio.Highland Capital Management boosted its stake in GE in the latest quarter, The investment management firm added 65,868 additional shares and now holds a total of 567,232 shares of General Electric Company which is valued at $18,593,865. General Electric Company makes up approx 1.55% of Highland Capital Management’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 -0.01 points or -0.03% at $31.27 with 2,04,34,126 shares getting traded on Monday. Post opening the session at $31.3, the shares hit an intraday low of $31.21 and an intraday high of $31.395 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, General Electric Company reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.46. The company had revenue of $33494.00 million for the quarter, compared to analysts expectations of $31573.67 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on General Electric Company. Standpoint Research Initiated General Electric Company on Jul 22, 2016 to “Sell”, Price Target of the shares are set at $26.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.

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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