Ashton Thomas Private Wealth LLC Sells 249 Shares of General Electric (NYSE:GE)

Ashton Thomas Private Wealth LLC lessened its holdings in General Electric (NYSE:GE) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,655 shares of the conglomerate’s stock after selling 249 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in General Electric were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GE. Meridian Management Co. increased its holdings in shares of General Electric by 1.2% in the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate’s stock worth $972,000 after buying an additional 61 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in General Electric by 2.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,656,801 shares of the conglomerate’s stock worth $501,020,000 after acquiring an additional 51,790 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in General Electric by 2.9% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,089 shares of the conglomerate’s stock valued at $16,605,000 after purchasing an additional 2,512 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of General Electric by 6.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,513 shares of the conglomerate’s stock valued at $3,868,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its holdings in shares of General Electric by 16.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 8,639 shares of the conglomerate’s stock worth $1,610,000 after purchasing an additional 1,195 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Activity

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $178.38 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $181.69 and its 200-day moving average price is $170.43. The firm has a market cap of $193.06 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.80 and a beta of 1.19. General Electric has a 12 month low of $92.58 and a 12 month high of $194.80.

General Electric (NYSE:GE) last posted 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts expect that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GE. Wells Fargo & Company raised 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. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Company 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.