MAI Capital Management Sells 3,117 Shares of General Electric (NYSE:GE)

MAI Capital Management trimmed its position in shares of General Electric (NYSE:GE - Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,540 shares of the conglomerate's stock after selling 3,117 shares during the period. MAI Capital Management's holdings in General Electric were worth $19,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its stake in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock worth $51,000 after buying an additional 146 shares in the last quarter. Mackenzie Financial Corp raised its stake in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate's stock worth $96,016,000 after buying an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC bought a new position in General Electric in the second quarter worth about $1,569,000. GAMMA Investing LLC raised its stake in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate's stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP bought a new position in General Electric in the second quarter worth about $34,973,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Up 0.4 %

Shares of NYSE:GE traded up $0.65 during trading on Monday, reaching $177.58. 2,833,782 shares of the stock traded hands, compared to its average volume of 6,228,377. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a 50-day moving average of $182.54 and a two-hundred day moving average of $170.81. The stock has a market cap of $192.19 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric's dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GE has been the subject of a number of research reports. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein upped their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.

General Electric 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.