General Electric (NYSE:GE) Shares Sold by Abound Wealth Management

Abound Wealth Management lowered its stake in shares of General Electric (NYSE:GE) by 10.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 590 shares of the conglomerate’s stock after selling 67 shares during the quarter. Abound Wealth Management’s holdings in General Electric were worth $98,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the third quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric in the third quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter valued at approximately $30,000. 74.77% of the stock is currently owned by institutional investors.

Insider Activity at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research reports. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered 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. Finally, Wells Fargo & Company increased their target price on shares of General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Up 0.1 %

General Electric stock traded up $0.10 during trading hours on Monday, hitting $171.79. The company had a trading volume of 3,755,712 shares, compared to its average volume of 4,686,897. General Electric has a fifty-two week low of $100.95 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $185.93 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The firm’s fifty day moving average is $174.34 and its 200-day moving average is $173.54.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. General Electric’s dividend payout ratio is currently 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.