Cito Capital Group LLC Decreases Holdings in General Electric (NYSE:GE)

Cito Capital Group LLC lessened its position in shares of General Electric (NYSE:GE) by 90.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,516 shares of the conglomerate’s stock after selling 72,621 shares during the quarter. Cito Capital Group LLC’s holdings in General Electric were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. Atalanta Sosnoff Capital LLC acquired a new stake in General Electric in the 3rd quarter worth about $1,267,000. Bradley Foster & Sargent Inc. CT raised its stake in shares of General Electric by 3.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 140,532 shares of the conglomerate’s stock valued at $1,892,000 after acquiring an additional 4,169 shares during the period. First Quadrant L P CA acquired a new position in shares of General Electric during the third quarter worth about $943,000. Prentice Wealth Management LLC acquired a new position in General Electric during the 3rd quarter worth approximately $210,000. Finally, Boothbay Fund Management LLC purchased a new position in General Electric in the 2nd quarter worth approximately $279,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

GE stock traded up $0.02 during midday trading on Friday, reaching $102.48. 170,575 shares of the company’s stock traded hands, compared to its average volume of 5,054,176. General Electric has a 1-year low of $85.12 and a 1-year high of $116.17. The company has a market cap of $112.54 billion, a price-to-earnings ratio of -197.21, a PEG ratio of 4.79 and a beta of 1.02. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 1.47. The company has a 50-day simple moving average of $98.65 and a two-hundred day simple moving average of $101.97.

General Electric (NYSE:GE) last announced its quarterly earnings results on Monday, October 25th. The conglomerate reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. The company had revenue of $18.43 billion during the quarter, compared to analyst estimates of $19.17 billion. General Electric had a negative net margin of 0.05% and a positive return on equity of 5.88%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Equities research analysts forecast that General Electric will post 2.01 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 25th. Stockholders of record on Tuesday, December 21st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. General Electric’s dividend payout ratio (DPR) is presently -61.54%.

In related news, Director Leslie Seidman bought 1,000 shares of the stock in a transaction that occurred on Monday, November 22nd. The shares were acquired at an average price of $100.59 per share, with a total value of $100,590.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders bought 2,051 shares of company stock worth $210,673. 0.71% of the stock is currently owned by insiders.

A number of analysts recently issued reports on the stock. TheStreet upgraded shares of General Electric from a “d+” rating to a “c” rating in a research note on Wednesday, October 20th. Morgan Stanley assumed coverage on General Electric in a research note on Tuesday, November 23rd. They issued an “overweight” rating and a $125.00 target price for the company. Credit Suisse Group upgraded General Electric from a “neutral” rating to an “outperform” rating and set a $122.00 target price on the stock in a research note on Tuesday, January 4th. Barclays reduced their price objective on General Electric from $128.00 to $122.00 and set an “overweight” rating for the company in a research report on Monday, December 6th. Finally, UBS Group raised their target price on shares of General Electric from $136.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $124.13.

About General Electric

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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