General Electric (NYSE:GE) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its position in General Electric (NYSE:GE) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,634 shares of the conglomerate’s stock after selling 565 shares during the period. Moors & Cabot Inc.’s holdings in General Electric were worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GE. Studio Investment Management LLC boosted its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric during the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the third quarter worth about $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $177.98 on Thursday. The firm has a market capitalization of $192.63 billion, a PE ratio of 31.28, a P/E/G ratio of 1.75 and a beta of 1.19. The stock has a 50 day simple moving average of $182.98 and a 200 day simple moving average of $170.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group boosted their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.