Cape Cod Five Cents Savings Bank Lowers Stock Holdings in General Electric (NYSE:GE)

Cape Cod Five Cents Savings Bank cut its stake in shares of General Electric (NYSE:GE) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,358 shares of the conglomerate’s stock after selling 417 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in General Electric were worth $1,010,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Tsfg LLC raised its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Macroview Investment Management LLC raised its stake in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the period. Strategic Advisors LLC grew its stake in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD raised its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Performance

NYSE:GE opened at $175.58 on Monday. General Electric has a fifty-two week low of $94.54 and a fifty-two 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 company has a 50 day moving average price of $182.10 and a 200 day moving average price of $172.43. The stock has a market capitalization of $190.03 billion, a P/E ratio of 30.86, a PEG ratio of 1.73 and a beta of 1.17.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Equities research analysts forecast that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

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.