Eastern Bank Lowers stake in General Electric Company (GE)

General Electric Company (GE) : Eastern Bank reduced its stake in General Electric Company by 1.56% during the most recent quarter end. The investment management company now holds a total of 920,393 shares of General Electric Company which is valued at $26,590,154 after selling 14,544 shares in General Electric Company , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.General Electric Company makes up approximately 2.17% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Cwm reduced its stake in GE by selling 51,287 shares or 36.44% in the most recent quarter. The Hedge Fund company now holds 89,442 shares of GE which is valued at $2,583,979. General Electric Company makes up approx 0.19% of Cwm’s portfolio.Verus Financial Partners reduced its stake in GE by selling 90 shares or 0.35% in the most recent quarter. The Hedge Fund company now holds 25,313 shares of GE which is valued at $728,255. General Electric Company makes up approx 0.33% of Verus Financial Partners’s portfolio.Carl Domino Inc reduced its stake in GE by selling 2,656 shares or 4.06% in the most recent quarter. The Hedge Fund company now holds 62,815 shares of GE which is valued at $1,816,610. General Electric Company makes up approx 1.73% of Carl Domino Inc’s portfolio.Chevy Chase Trust Holdings boosted its stake in GE in the latest quarter, The investment management firm added 284,348 additional shares and now holds a total of 8,689,301 shares of General Electric Company which is valued at $256,334,380. General Electric Company makes up approx 1.41% of Chevy Chase Trust Holdings’s portfolio.

General Electric Company opened for trading at $28.96 and hit $29.03 on the upside on Friday, eventually ending the session at $28.89, with a gain of 0.42% or 0.12 points. The heightened volatility saw the trading volume jump to 2,81,81,380 shares. Company has a market cap of $258,890 M.

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. Shares were Reiterated by UBS on Oct 14, 2016 to “Buy” and Lowered the Price Target to $ 34 from a previous price target of $37 .Standpoint Research Initiated General Electric Company on Jul 22, 2016 to “Sell”, Price Target of the shares are set at $26.

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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