Arcus Capital Partners LLC Sells 359 Shares of General Electric (NYSE:GE)

Arcus Capital Partners LLC trimmed its holdings in General Electric (NYSE:GE) by 3.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,545 shares of the conglomerate’s stock after selling 359 shares during the quarter. General Electric comprises 0.8% of Arcus Capital Partners LLC’s portfolio, making the stock its 23rd biggest holding. Arcus Capital Partners LLC’s holdings in General Electric were worth $2,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC lifted its holdings in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after buying an additional 146 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after acquiring an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC acquired a new position in shares of General Electric during the second quarter valued at $1,569,000. GAMMA Investing LLC increased its position in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the period. Finally, Senator Investment Group LP bought a new stake in General Electric during the 2nd quarter worth about $34,973,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GE. UBS Group raised their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $184.62 on Tuesday. The stock has a 50 day simple moving average of $180.98 and a 200 day simple moving average of $170.19. General Electric has a 52-week low of $91.77 and a 52-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 firm has a market capitalization of $199.81 billion, a PE ratio of 32.45, a P/E/G ratio of 1.82 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

About General Electric

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.