Cullen Frost Bankers Inc. Sells 8,339 Shares of General Electric (NYSE:GE)

Cullen Frost Bankers Inc. cut its holdings in General Electric (NYSE:GE) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,009 shares of the conglomerate’s stock after selling 8,339 shares during the period. Cullen Frost Bankers Inc.’s holdings in General Electric were worth $2,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Beese Fulmer Investment Management Inc. grew its holdings in General Electric by 28.3% in the third quarter. Beese Fulmer Investment Management Inc. now owns 132,814 shares of the conglomerate’s stock worth $1,187,000 after purchasing an additional 29,300 shares during the period. First Mercantile Trust Co. grew its holdings in shares of General Electric by 1.6% during the third quarter. First Mercantile Trust Co. now owns 97,386 shares of the conglomerate’s stock valued at $871,000 after buying an additional 1,501 shares during the last quarter. Moloney Securities Asset Management LLC grew its holdings in shares of General Electric by 4.8% during the third quarter. Moloney Securities Asset Management LLC now owns 68,760 shares of the conglomerate’s stock valued at $615,000 after buying an additional 3,152 shares during the last quarter. Hallmark Capital Management Inc. purchased a new stake in shares of General Electric during the third quarter valued at approximately $99,000. Finally, Mackay Shields LLC grew its holdings in shares of General Electric by 4.9% during the third quarter. Mackay Shields LLC now owns 1,589,414 shares of the conglomerate’s stock valued at $14,210,000 after buying an additional 74,716 shares during the last quarter. 58.97% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the stock. Deutsche Bank increased their price target on shares of General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, September 4th. Credit Suisse Group restated a “hold” rating and set a $10.00 price objective on shares of General Electric in a research report on Monday. William Blair restated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Finally, Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.41.

In related news, Director Thomas W. Horton bought 55,248 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $9.02 per share, with a total value of $498,336.96. Following the completion of the purchase, the director now owns 55,248 shares of the company’s stock, valued at approximately $498,336.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula Rosput Reynolds bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $9.05 per share, with a total value of $45,250.00. Following the completion of the purchase, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $149,325. The disclosure for this purchase can be found here. Over the last three months, insiders bought 801,068 shares of company stock valued at $6,954,745. Corporate insiders own 1.13% of the company’s stock.

GE traded up $0.20 during trading on Friday, hitting $11.49. The company’s stock had a trading volume of 30,274,453 shares, compared to its average volume of 60,476,536. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67. General Electric has a one year low of $6.66 and a one year high of $11.75. The firm has a market cap of $99.48 billion, a PE ratio of 17.68, a P/E/G ratio of 2.46 and a beta of 1.13. The business’s 50 day simple moving average is $9.21 and its 200-day simple moving average is $9.57.

General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $23.36 billion for the quarter, compared to the consensus estimate of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Equities research analysts expect that General Electric will post 0.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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