Shikiar Asset Management INC Lifted Position in General Electric (GE) by $3.74 Million

March 17, 2018 - By Nellie Frank

Investors sentiment decreased to 0.69 in Q3 2017. Its down 0.10, from 0.79 in 2017Q2. It fall, 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. 588,253 were accumulated by Thompson Invest Management. Heritage Invsts Management Corp holds 1.11% or 716,391 shares in its portfolio. Waldron Lp invested in 0.11% or 15,819 shares. Stoneridge Invest Prtnrs Ltd Company invested 1.17% of its portfolio in General Electric Company (NYSE:GE). Guardian Investment Mgmt has 138,633 shares. Beech Hill Advsr Incorporated invested 0.26% in General Electric Company (NYSE:GE). Phocas invested in 0.08% or 28,449 shares. Price Michael F holds 10,000 shares or 0.03% of its portfolio. Glovista Invs Limited Liability Com accumulated 0.05% or 10,617 shares. Daiwa Sb holds 0% or 670 shares. Lodestar Invest Counsel Ltd Il reported 1.03% in General Electric Company (NYSE:GE). Jacobus Wealth Mgmt reported 27,395 shares. Bp Public, a United Kingdom-based fund reported 606,000 shares. Wellington Shields Company Ltd Liability Company owns 149,579 shares. New Vernon Invest Mngmt owns 16,183 shares or 0.43% of their US portfolio.

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

Shikiar Asset Management Inc increased its stake in General Electric (GE) by 124.33% based on its latest 2017Q3 regulatory filing with the SEC. Shikiar Asset Management Inc bought 156,005 shares as the company’s stock declined 7.64% while stock markets rallied. The institutional investor held 281,480 shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $6.81M, up from 125,475 at the end of the previous reported quarter. Shikiar Asset Management Inc who had been investing in General Electric for a number of months, seems to be bullish on the $124.25B market cap company. The stock decreased 0.35% or $0.05 during the last trading session, reaching $14.31. About 114.49M shares traded or 26.35% up from the average. General Electric Company (NYSE:GE) has declined 4.46% since March 17, 2017 and is downtrending. It has underperformed by 21.16% the S&P500.

Shikiar Asset Management Inc, which manages about $319.33M and $230.10M US Long portfolio, decreased its stake in Kite Pharma Inc (NASDAQ:KITE) by 22,000 shares to 15,600 shares, valued at $2.81 million in 2017Q3, according to the filing.

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 has $67 highest and $11 lowest target. $25.79’s average target is 80.22% above currents $14.31 stock price. General Electric Company had 94 analyst reports since July 21, 2015 according to SRatingsIntel. RBC Capital Markets maintained it with “Outperform” rating and $32 target in Monday, October 19 report. The firm earned “Buy” rating on Thursday, January 21 by Citigroup. Cowen & Co maintained the stock with “Hold” rating in Monday, June 12 report. The firm earned “Hold” rating on Monday, July 17 by Cowen & Co. The stock of General Electric Company (NYSE:GE) has “Buy” rating given on Wednesday, August 26 by Vetr. The firm has “Buy” rating by S&P Research given on Wednesday, October 14. Oppenheimer downgraded the stock to “Perform” rating in Monday, September 21 report. The rating was maintained by Bank of America on Tuesday, November 14 with “Buy”. The company was maintained on Monday, November 30 by RBC Capital Markets. Tigress Financial maintained the shares of GE in report on Thursday, December 28 with “Hold” rating.

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