Cullen Frost Bankers Inc. Sells 81,885 Shares of General Electric (GE)

Cullen Frost Bankers Inc. reduced its position in General Electric (NYSE:GE) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,856 shares of the conglomerate’s stock after selling 81,885 shares during the period. Cullen Frost Bankers Inc.’s holdings in General Electric were worth $2,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GE. Hollencrest Capital Management lifted its position in General Electric by 4.5% in the third quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock valued at $2,167,000 after purchasing an additional 8,345 shares during the period. First Command Financial Services Inc. lifted its position in General Electric by 12.0% in the third quarter. First Command Financial Services Inc. now owns 91,708 shares of the conglomerate’s stock valued at $1,036,000 after purchasing an additional 9,856 shares during the period. Alps Advisors Inc. lifted its position in General Electric by 10.3% in the third quarter. Alps Advisors Inc. now owns 3,747,703 shares of the conglomerate’s stock valued at $42,312,000 after purchasing an additional 350,372 shares during the period. BancorpSouth Bank lifted its position in General Electric by 78.0% in the third quarter. BancorpSouth Bank now owns 67,008 shares of the conglomerate’s stock valued at $756,000 after purchasing an additional 29,360 shares during the period. Finally, Personal Resources Investment & Strategic Management Inc. lifted its position in General Electric by 5.3% in the third quarter. Personal Resources Investment & Strategic Management Inc. now owns 199,496 shares of the conglomerate’s stock valued at $2,470,000 after purchasing an additional 9,986 shares during the period. Institutional investors own 57.72% of the company’s stock.

Shares of General Electric stock opened at $9.35 on Friday. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52. The stock has a market capitalization of $81.18 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 3.97 and a beta of 0.99.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The company had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. As a group, sell-side analysts predict that General Electric will post 0.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be issued a $0.01 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

In other General Electric news, insider Russell Stokes sold 49,904 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.13% of the company’s stock.

A number of brokerages recently commented on GE. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. downgraded shares of General Electric from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $6.00 to $5.00 in a research report on Monday, April 8th. Royal Bank of Canada set a $12.00 price objective on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, March 12th. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $11.00 price objective on shares of General Electric in a research report on Friday, March 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.39.

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About General Electric

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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