As General Electric Co (GE) Share Value Declined, Bank Of New York Mellon Corp Has Lowered Holding

March 19, 2018 - By Louis Casey

Investors sentiment decreased to 0.69 in Q3 2017. Its down 0.10, from 0.79 in 2017Q2. It dropped, as 112 investors sold GE shares while 818 reduced holdings. 118 funds opened positions while 525 raised stakes. 4.70 billion shares or 1.82% more from 4.61 billion shares in 2017Q2 were reported. Northwestern Mutual Wealth Mngmt Co invested 0.16% in General Electric Company (NYSE:GE). Cardinal Cap has invested 1.52% in General Electric Company (NYSE:GE). Bailard Inc holds 0.06% or 33,255 shares. Jpmorgan Chase & reported 56.67 million shares. Rfg Advisory Group Ltd Llc, Alabama-based fund reported 11,860 shares. Macguire Cheswick And Tuttle Counsel Ltd Liability Com holds 0.19% or 39,830 shares in its portfolio. Dixon Hubard Feinour And Brown Va holds 0.34% in General Electric Company (NYSE:GE) or 48,396 shares. Cambridge Trust Communication reported 1.82% stake. 340,241 are held by Peak6 Invs Ltd Partnership. Bancorporation Hapoalim Bm has 0.21% invested in General Electric Company (NYSE:GE). Brown Advisory has 0.32% invested in General Electric Company (NYSE:GE) for 3.93 million shares. The Georgia-based Narwhal Mngmt has invested 1.38% in General Electric Company (NYSE:GE). Wellington Shields Llc holds 1.19% or 149,579 shares in its portfolio. Crawford Invest Counsel holds 0.12% or 158,841 shares. Payden And Rygel holds 116,602 shares.

Since January 26, 2018, it had 1 insider purchase, and 0 selling transactions for $43,446 activity.

Bank Of New York Mellon Corp decreased its stake in General Electric Co (GE) by 0.77% based on its latest 2017Q3 regulatory filing with the SEC. Bank Of New York Mellon Corp sold 624,136 shares as the company’s stock declined 7.64% while stock markets rallied. The institutional investor held 80.85M shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $1.95 billion, down from 81.47 million at the end of the previous reported quarter. Bank Of New York Mellon Corp who had been investing in General Electric Co for a number of months, seems to be less bullish one the $121.74 billion market cap company. The stock decreased 2.03% or $0.29 during the last trading session, reaching $14.02. About 44.31 million shares traded. General Electric Company (NYSE:GE) has declined 4.46% since March 19, 2017 and is downtrending. It has underperformed by 21.16% the S&P500.

Bank Of New York Mellon Corp, which manages about $363.33 billion US Long portfolio, upped its stake in Signature Bank (NASDAQ:SBNY) by 35,463 shares to 685,415 shares, valued at $87.76M in 2017Q3, according to the filing. It also increased its holding in Therapeuticsmd Inc (NYSEMKT:TXMD) by 2.99M shares in the quarter, for a total of 25.88M shares, and has risen its stake in Sterling Bancorp/De (NYSE:STL).

Analysts await General Electric Company (NYSE:GE) to report earnings on April, 20. They expect $0.12 earnings per share, down 42.86 % or $0.09 from last year’s $0.21 per share. GE’s profit will be $1.04 billion for 29.21 P/E if the $0.12 EPS becomes a reality. After $0.27 actual earnings per share reported by General Electric Company for the previous quarter, Wall Street now forecasts -55.56 % negative EPS growth.

General Electric Company (NYSE:GE) Ratings Coverage

Among 28 analysts covering General Electric Company (NYSE:GE), 8 have Buy rating, 5 Sell and 15 Hold. Therefore 29% are positive. General Electric Company had 94 analyst reports since July 21, 2015 according to SRatingsIntel. Cowen & Co maintained the stock with “Hold” rating in Thursday, October 19 report. The stock of General Electric Company (NYSE:GE) has “Hold” rating given on Friday, July 21 by CFRA. William Blair upgraded the stock to “Outperform” rating in Tuesday, October 13 report. Cowen & Co maintained it with “Hold” rating and $2700 target in Monday, July 17 report. S&P Research maintained it with “Buy” rating and $54 target in Monday, August 17 report. The firm has “Perform” rating given on Monday, September 21 by Oppenheimer. On Monday, June 12 the stock rating was maintained by Oppenheimer with “Hold”. The rating was maintained by Credit Suisse on Wednesday, April 12 with “Buy”. The firm has “Equal-Weight” rating given on Monday, July 17 by Morgan Stanley. The firm has “Hold” rating by Cowen & Co given on Friday, April 21.

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