SeaCrest Wealth Management LLC Cuts Stock Holdings in General Electric (NYSE:GE)

SeaCrest Wealth Management LLC reduced its stake in General Electric (NYSE:GE) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,037 shares of the conglomerate’s stock after selling 1,544 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Electric were worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Newport Trust Company LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at $2,613,332,000. Jennison Associates LLC increased its stake in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in General Electric in the second quarter valued at $580,200,000. International Assets Investment Management LLC raised its position in General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after purchasing an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its stake in General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Up 3.0 %

Shares of NYSE:GE opened at $176.77 on Wednesday. The stock’s 50-day moving average is $174.37 and its 200 day moving average is $173.74. The company has a market cap of $191.32 billion, a PE ratio of 31.07, a P/E/G ratio of 1.63 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1 year low of $100.95 and a 1 year high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. During the same period in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research reports. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.47.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About General Electric

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.