Institutional Move: As General Electric Co (GE) Share Price Declined, Hamel Associates INC Upped Its Position by $5.94 Million

Institutional Move: As General Electric Co (GE) Share Price Declined, Hamel Associates INC Upped Its Position by $5.94 Million

Hamel Associates Inc increased its stake in General Electric Co (GE) by 472.22% based on its latest 2016Q3 regulatory filing with the SEC. Hamel Associates Inc bought 204,978 shares as the company’s stock declined 5.94% while stock markets rallied. The institutional investor held 248,385 shares of the consumer electronics and appliances company at the end of 2016Q3, valued at $7.36 million, up from 43,407 at the end of the previous reported quarter. Hamel Associates Inc who had been investing in General Electric Co for a number of months, seems to be bullish on the $277.07B market cap company. The stock is up 0.10% or $0.03 after the positive news, hitting $31.41 per share. About 18.66 million shares traded hands. General Electric Company (NYSE:GE) has risen 4.08% since June 7, 2016 and is uptrending. It has underperformed by 3.34% the S&P500.

Hamel Associates Inc is a New Jersey-based institutional investor with more than $314.24 million AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Hamel Associates latest Adv, the fund reported to have 8 full and part-time employees. Among which 2 performing investment advisory and research functions. The institutional investor had more than 200 clients.

Insitutional Activity: The institutional sentiment increased to 0.89 in Q3 2016. Its up 0.07, from 0.82 in 2016Q2. The ratio increased, as 75 funds sold all GE shares owned while 781 reduced positions. 116 funds bought stakes while 648 increased positions. They now own 4.63 billion shares or 5.72% less from 4.91 billion shares in 2016Q2. Sequoia Financial Advsr Lc owns 66,041 shares or 0.36% of their US portfolio. Roof Eidam And Maycock Adv, a California-based fund reported 34,545 shares. Salient Com Lta last reported 122,303 shares in the company. Moreover, Mufg Americas Holdings has 2.32% invested in General Electric Company (NYSE:GE) for 2.30M shares. Institutional Capital Ltd Liability Corp last reported 341,999 shares in the company. Berkshire Asset Limited Liability Corp Pa holds 2.51% or 588,940 shares in its portfolio. The Arkansas-based Garrison Fincl Corp has invested 1.95% in General Electric Company (NYSE:GE). Livingston Group Asset Management (Operating As Southport Cap Management) accumulated 79,793 shares or 1.65% of the stock. Liberty accumulated 0.77% or 40,192 shares. Comm Financial Bank accumulated 1.7% or 3.68M shares. Raymond James Na last reported 0.92% of its portfolio in the stock. Blue Chip Inc accumulated 148,105 shares or 1.94% of the stock. Naples Advsrs Limited Liability Company last reported 97,437 shares in the company. Private Harbour Invest Counsel Limited accumulated 2.05% or 80,895 shares. Hirtle Callaghan Co Ltd Liability Company accumulated 0.19% or 30,500 shares.

Insider Transactions: Since July 26, 2016, the stock had 2 insider purchases, and 0 selling transactions for $3.03 million net activity. The insider IMMELT JEFFREY R bought 50,000 shares worth $1.46 million.

More notable recent General Electric Company (NYSE:GE) news were published by: Investorplace.com which released: “Trump Won’t Get General Electric Company (GE) Stock Off the Ground” on January 11, 2017, also Fool.com with their article: “Why General Electric Company Offers Investors Something Different in 2017” published on January 06, 2017, Seekingalpha.com published: “General Electric: A Unique Dividend Growth Opportunity Presents Itself” on January 11, 2017. More interesting news about General Electric Company (NYSE:GE) were released by: Zacks.com and their article: “GE Completes ServiceMax Buyout, Boosts Industrial Internet” published on January 11, 2017 as well as Fool.com‘s news article titled: “5 Ways General Electric Company Can Grow Faster Than Estimates” with publication date: December 19, 2016.

According to Zacks Investment Research, “General Electric Company operates as a technology and financial services company. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. The company’s Energy Infrastructure segment offers wind turbines; gas and steam turbines and generators. Its Aviation segment offers jet engines, turboprop and turbo shaft engines, aerospace systems and equipment. Its Healthcare segment provides medical imaging and information technologies, medical diagnostics, patient monitoring systems. Its Transportation segment provides drive technology solutions to various industries. Its Home and Business Solutions segment provides home appliances; lighting products, plant automation, hardware, software, and embedded computing systems. Its GE Capital segment offers commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. General Electric Company is headquartered in Fairfield, Connecticut.”

General Electric Company (NYSE:GE) Ratings Coverage

Out of 19 analysts covering General Electric Company (NYSE:GE), 11 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 58% are positive. General Electric Company has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of General Electric Company (NYSE:GE) earned “Buy” rating by UBS on Friday, October 14. The rating was maintained by RBC Capital Markets on Monday, January 25 with “Outperform”. The stock has “Buy” rating given by Vetr on Wednesday, August 26. Credit Suisse maintained the shares of GE in a report on Monday, November 23 with “Outperform” rating. The firm has “Market Perform” rating given on Tuesday, June 7 by Cowen & Co. On Monday, October 5 the stock rating was maintained by Barclays Capital with “Overweight”. The firm earned “Focus List” rating on Wednesday, September 16 by Credit Suisse. The firm has “Hold” rating by Deutsche Bank given on Tuesday, August 25. The stock of General Electric Company (NYSE:GE) earned “Buy” rating by on Monday, October 10. The rating was maintained by Bernstein on Tuesday, July 26 with “Market Perform”.

GE Company Profile

General Electric Company (GE), incorporated on April 15, 1892, is a global digital industrial company. The Company’s services and products range from aircraft engines, power generation and gas and oil production equipment to medical imaging, financing and industrial products. The Company’s divisions include Power, Renewable Energy, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting, and Capital.

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