Bowen Hanes & Co INC Has Cut General Electric (GE) Stake by $14.18 Million as Valuation Declined

January 19, 2018 - By Maria Brooks

Investors sentiment decreased to 0.69 in 2017 Q3. Its down 0.10, from 0.79 in 2017Q2. It is negative, 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. 359,204 are held by Callahan Advsr Lc. Apriem Advsrs has invested 0.07% of its portfolio in General Electric Company (NYSE:GE). Fayerweather Charles has 0.82% invested in General Electric Company (NYSE:GE). Axa accumulated 0.38% or 3.62 million shares. Hexavest reported 2.62M shares. Teacher Retirement System Of Texas owns 0.47% invested in General Electric Company (NYSE:GE) for 3.14 million shares. Affinity Wealth stated it has 21,941 shares or 0.38% of all its holdings. 32,738 were reported by Coho Prtn. Aureus Asset Lc stated it has 36,649 shares. Choate holds 395,391 shares. Stevens First Principles Advisors holds 1.27% of its portfolio in General Electric Company (NYSE:GE) for 96,827 shares. American Assets Inv Limited Co stated it has 2.17% in General Electric Company (NYSE:GE). Moreover, Bennicas And has 0.3% invested in General Electric Company (NYSE:GE) for 14,630 shares. Wilkins Investment Counsel reported 131,178 shares. Dowling Yahnke Ltd Liability Co has 0.61% invested in General Electric Company (NYSE:GE) for 247,441 shares.

Since August 8, 2017, it had 2 buys, and 1 insider sale for $4.48 million activity. 24,693 General Electric Company (NYSE:GE) shares with value of $633,375 were sold by Comstock Elizabeth J. 100,000 shares were bought by TISCH JAMES S, worth $2.46 million.

Bowen Hanes & Co Inc decreased its stake in General Electric (GE) by 62.71% based on its latest 2017Q3 regulatory filing with the SEC. Bowen Hanes & Co Inc sold 590,950 shares as the company’s stock declined 7.64% while stock markets rallied. The institutional investor held 351,434 shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $8.50M, down from 942,384 at the end of the previous reported quarter. Bowen Hanes & Co Inc who had been investing in General Electric for a number of months, seems to be less bullish one the $145.43B market cap company. The stock decreased 3.34% or $0.58 during the last trading session, reaching $16.77. About 172.26M shares traded or 94.13% up from the average. General Electric Company (NYSE:GE) has declined 4.46% since January 19, 2017 and is downtrending. It has underperformed by 21.16% the S&P500.

Bowen Hanes & Co Inc, which manages about $2.46B and $2.13B US Long portfolio, upped its stake in American Express (NYSE:AXP) by 39,870 shares to 315,295 shares, valued at $28.52 million in 2017Q3, according to the filing. It also increased its holding in Solaredge Technologies by 543,000 shares in the quarter, for a total of 563,000 shares, and has risen its stake in Int’l Paper (NYSE:IP).

More notable recent General Electric Company (NYSE:GE) news were published by: Seekingalpha.com which released: “General Electric: Massive Disappointment” on January 17, 2018, also Cnbc.com with their article: “Beware the ‘black hole’ that is GE, market watcher warns” published on January 18, 2018, Seekingalpha.com published: “GE: There Is No Joy In Mudville” on January 19, 2018. More interesting news about General Electric Company (NYSE:GE) were released by: Cnbc.com and their article: “Wrong on GE, market-beating value investor Bill Nygren says he is sticking by …” published on January 18, 2018 as well as Seekingalpha.com‘s news article titled: “General Electric: Brace Yourself, New 52-Week Lows Ahead” with publication date: January 18, 2018.

General Electric Company (NYSE:GE) Ratings Coverage

Among 27 analysts covering General Electric Company (NYSE:GE), 10 have Buy rating, 5 Sell and 12 Hold. Therefore 37% are positive. General Electric Company has $67 highest and $15.0 lowest target. $27.99’s average target is 66.91% above currents $16.77 stock price. General Electric Company had 82 analyst reports since July 21, 2015 according to SRatingsIntel. On Friday, July 7 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm has “Market Perform” rating by Bernstein given on Monday, April 4. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, October 19 report. The rating was maintained by Oppenheimer on Monday, July 17 with “Hold”. Citigroup maintained the stock with “Buy” rating in Monday, October 23 report. Tigress Financial maintained the stock with “Hold” rating in Thursday, January 4 report. The rating was maintained by Morgan Stanley on Monday, July 17 with “Equal-Weight”. The stock has “Sector Perform” rating by RBC Capital Markets on Tuesday, November 14. The stock has “Buy” rating by Vetr on Wednesday, August 26. The stock has “Hold” rating by Tigress Financial on Thursday, December 28.

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