General Electric Company (GE) Tops Q2 Expectations On Strong Industrials

How have hedgies been trading General Electric Company (NYSE:GE)?

According to hedge fund experts at Insider Monkey, Fisher Asset Management, helmed by Ken Fisher, holds the biggest position in General Electric Company (NYSE:GE), owning 30.35 million shares for a $753 million position in the stock, comprising 1.5% of its 13F portfolio. The second-largest stake is held by Phill Gross and Robert Atchinson of Adage Capital Management, a $357.1 million position in 14.39 million shares; 0.9% of its 13F portfolio is allocated to the stock. Other peers with similar optimism include Eric W. Mandelblatt’s Soroban Capital Partners, David E. Shaw’s D.E. Shaw & Co., L.P. and John A. Levin’s Levin Capital Strategies.

Key money managers have jumped into General Electric Company (NYSE:GE) headfirst. The aforementioned Soroban Capital Partners, managed by Eric W. Mandelblatt, initiated the most valuable call position in General Electric Company (NYSE:GE). Soroban Capital Partners had $347.3 million invested in the company at the end of the quarter in a position of call options underlying 14.0 million shares. Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC also initiated a $216.9 million position during the quarter, buying 8.74 million shares. Some other funds with new positions in the stock are Paul Marshall and Ian Wace’s Marshall Wace LLP, Anand Parekh’s Alyeska Investment Group, and Jason Karp’s Tourbillon Capital Partners.

The clearly bullish sentiment of hedge funds and insiders of General Electric Company (NYSE:GE) in addition to the firm’s solid second quarter performance makes the stock a good buy at the moment.

Disclosure: None