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General Electric Company (GE) Down On Capital One Financial Corp. (COF) Deal, but Hedge Funds Like Its Refocus on Core Businesses

What have hedge funds been doing with General Electric Company (NYSE:GE)?

Hedge funds from our database increased their total investment in General Electric Company (NYSE:GE) by 10.83% quarter-over-quarter, to $3.13 billion, by the end of March, while the stock declined by 1.82% during the same period. Moreover, there were 62 hedge funds in our database with GE holdings at the end of the first quarter, up from 56 at the end of the last year. However, despite the increase of the aggregate value of hedge funds, they hold around 1.25% of GE’s outstanding stock, meaning that generally, hedge funds are underweight GE.

Before we have the whole picture of the hedge fund sentiment regarding General Electric Company (NYSE:GE) from the end of June, we should mention that Ken Fisher‘s Fisher Asset Management raised its stake in the company to 30.71 million shares valued at $816.08 million during the second quarter. Looking back at the previous round of 13F filings, Soroban Capital Partners, managed by Eric W. Mandelblatt, disclosed a new stake with ‘Call’ options underlying 14 million shares, while Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC initiated a position with 8.74 million shares.

Because General Electric Company (NYSE:GE) gains more popularity among hedge funds as it refocuses and sells some of its businesses, we also consider the stock a good investment opportunity.

Disclosure: None

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