MCF Advisors LLC Sells 2,129 Shares of General Electric (NYSE:GE)

MCF Advisors LLC cut its stake in shares of General Electric (NYSE:GE) by 50.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,111 shares of the conglomerate’s stock after selling 2,129 shares during the quarter. MCF Advisors LLC’s holdings in General Electric were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dark Forest Capital Management LP grew its holdings in General Electric by 32.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 5,015 shares of the conglomerate’s stock worth $554,000 after acquiring an additional 1,232 shares during the last quarter. Mather Group LLC. grew its holdings in General Electric by 11.0% during the 3rd quarter. Mather Group LLC. now owns 8,307 shares of the conglomerate’s stock worth $918,000 after acquiring an additional 824 shares during the last quarter. Synovus Financial Corp grew its holdings in General Electric by 12.1% during the 3rd quarter. Synovus Financial Corp now owns 29,835 shares of the conglomerate’s stock worth $3,298,000 after acquiring an additional 3,225 shares during the last quarter. Roundview Capital LLC grew its holdings in General Electric by 9.8% during the 3rd quarter. Roundview Capital LLC now owns 2,558 shares of the conglomerate’s stock worth $283,000 after acquiring an additional 228 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in General Electric by 35.8% during the 3rd quarter. Bank of Nova Scotia now owns 515,099 shares of the conglomerate’s stock worth $56,944,000 after acquiring an additional 135,793 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

GE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Royal Bank of Canada boosted their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup boosted their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Argus boosted their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays dropped their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $181.36.

General Electric Stock Down 1.0 %

GE traded down $1.53 during trading on Friday, hitting $158.97. 8,641,197 shares of the company’s stock were exchanged, compared to its average volume of 6,007,353. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $162.36 and its two-hundred day moving average is $151.17. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. The stock has a market cap of $174.01 billion, a P/E ratio of 52.13, a PEG ratio of 1.71 and a beta of 1.23.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. General Electric’s payout ratio is 36.72%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

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.