General Electric (NYSE:GE) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lessened its stake in General Electric (NYSE:GE) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,450 shares of the conglomerate’s stock after selling 873 shares during the period. SeaCrest Wealth Management LLC’s holdings in General Electric were worth $2,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its stake in shares of General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after acquiring an additional 13,427,079 shares during the period. Norges Bank purchased a new position in General Electric during the fourth quarter worth $635,274,000. State Street Corp raised its stake in General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after purchasing an additional 7,157,356 shares during the last quarter. BlackRock Inc. lifted its stake in shares of General Electric by 4.4% during the second quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate’s stock valued at $7,742,325,000 after buying an additional 2,974,946 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of General Electric by 265.7% during the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock worth $332,581,000 after purchasing an additional 2,185,793 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE traded down $4.59 during midday trading on Friday, hitting $175.53. 9,674,578 shares of the stock traded hands, compared to its average volume of 7,425,167. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. General Electric has a 1-year low of $93.47 and a 1-year high of $180.36. The business’s 50 day moving average price is $151.58 and its two-hundred day moving average price is $129.37. The firm has a market capitalization of $191.90 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.41 and a beta of 1.28.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The firm had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. General Electric’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Equities research analysts predict that General Electric will post 4.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GE has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of General Electric from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Jefferies Financial Group boosted their target price on shares of General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Finally, StockNews.com initiated coverage on General Electric in a research report on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.54.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.