SeaCrest Wealth Management LLC Sells 873 Shares of General Electric (NYSE:GE)

SeaCrest Wealth Management LLC cut its holdings in shares of General Electric (NYSE:GE) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,450 shares of the conglomerate’s stock after selling 873 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Electric were worth $2,835,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CGC Financial Services LLC raised its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares during the period. Financial Freedom LLC purchased a new stake in General Electric during the fourth quarter valued at about $32,000. Macroview Investment Management LLC boosted its position in General Electric by 43.4% during the third quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 96 shares during the period. Finally, DHJJ Financial Advisors Ltd. purchased a new position in shares of General Electric in the third quarter worth about $37,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

GE stock traded down $4.59 during midday trading on Friday, reaching $175.53. The company had a trading volume of 9,674,578 shares, compared to its average volume of 7,425,167. The firm has a 50-day moving average price of $151.58 and a 200-day moving average price of $129.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The company has a market capitalization of $191.90 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.41 and a beta of 1.28. General Electric has a 1 year low of $93.47 and a 1 year high of $180.36.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of General Electric from a “neutral” rating to an “overweight” rating and upped their price target for the company from $166.00 to $180.00 in a research note on Friday, March 8th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. StockNews.com initiated coverage on General Electric in a research note on Thursday. They set a “hold” rating on the stock. Barclays raised their target price on General Electric from $153.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.54.

Insider Buying and Selling at General Electric

In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Company Profile

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.