Aigen Investment Management LP Makes New $556,000 Investment in General Electric (NYSE:GE)

Aigen Investment Management LP acquired a new position in General Electric (NYSE:GE) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,356 shares of the conglomerate’s stock, valued at approximately $556,000.

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in General Electric in the 1st quarter worth $28,000. TD Ameritrade Investment Management LLC acquired a new position in General Electric in the 4th quarter worth $31,000. Childress Capital Advisors LLC acquired a new position in General Electric in the 4th quarter worth $35,000. Inspire Advisors LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $38,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of General Electric in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 63.41% of the company’s stock.

NYSE GE opened at $13.63 on Friday. General Electric has a 52 week low of $5.93 and a 52 week high of $14.41. The company has a current ratio of 1.96, a quick ratio of 1.68 and a debt-to-equity ratio of 1.90. The company has a market cap of $119.65 billion, a PE ratio of -29.63, a price-to-earnings-growth ratio of 12.71 and a beta of 1.06. The stock has a 50-day moving average price of $13.45.

General Electric (NYSE:GE) last posted its earnings results on Monday, April 26th. The conglomerate reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. General Electric had a negative net margin of 4.33% and a positive return on equity of 1.53%. The firm had revenue of $17.12 billion during the quarter, compared to analysts’ expectations of $17.66 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. General Electric’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 0.26 earnings per share for the current year.

GE has been the topic of a number of recent analyst reports. Bank of America restated a “buy” rating and issued a $15.00 target price on shares of General Electric in a research note on Monday, March 15th. Morgan Stanley upped their target price on shares of General Electric from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, March 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of General Electric in a research note on Friday, May 14th. They issued a “buy” rating and a $17.00 target price on the stock. The Goldman Sachs Group set a $15.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, March 17th. Finally, Credit Suisse Group upped their target price on shares of General Electric from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, April 28th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $14.60.

About General Electric

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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