Moors & Cabot Inc. Sells 565 Shares of General Electric (NYSE:GE)

Moors & Cabot Inc. lowered its position in General Electric (NYSE:GE) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 (SEC).

Several other institutional investors have also added to or reduced their stakes in GE. Darwin Wealth Management LLC purchased a new position in shares of General Electric during the third quarter worth approximately $438,000. Portfolio Design Labs LLC increased its holdings in General Electric by 10.8% during the third quarter. Portfolio Design Labs LLC now owns 18,718 shares of the conglomerate’s stock valued at $3,530,000 after buying an additional 1,819 shares during the period. Advisors Asset Management Inc. increased its holdings in General Electric by 29.8% during the third quarter. Advisors Asset Management Inc. now owns 18,706 shares of the conglomerate’s stock valued at $3,528,000 after buying an additional 4,294 shares during the period. Jennison Associates LLC increased its holdings in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the period. Finally, PCJ Investment Counsel Ltd. increased its holdings in General Electric by 12.3% during the third quarter. PCJ Investment Counsel Ltd. now owns 19,090 shares of the conglomerate’s stock valued at $3,600,000 after buying an additional 2,090 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.2 %

NYSE GE opened at $177.98 on Thursday. The company 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 company has a fifty day moving average of $182.98 and a 200 day moving average of $170.96. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. 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 (NYSE:GE) last released its quarterly earnings data 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 net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts forecast that General Electric will post 4.22 earnings per share for the current 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. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is 19.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GE shares. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities 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, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.