National Wealth Management Group LLC Sells 2,435 Shares of General Electric (NYSE:GE)

National Wealth Management Group LLC decreased its holdings in General Electric (NYSE:GE) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,888 shares of the conglomerate’s stock after selling 2,435 shares during the period. National Wealth Management Group LLC’s holdings in General Electric were worth $922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Catalyst Capital Advisors LLC lifted its position in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares in the last quarter. Mackenzie Financial Corp grew its stake 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 valued at $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of General Electric during the second quarter valued at approximately $1,569,000. GAMMA Investing LLC boosted its holdings in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after purchasing an additional 3,442 shares during the period. Finally, Senator Investment Group LP purchased a new stake in shares of General Electric in the second quarter valued at approximately $34,973,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Down 2.2 %

GE stock opened at $180.61 on Thursday. 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 firm has a market capitalization of $195.47 billion, a PE ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19. General Electric has a 1-year low of $94.54 and a 1-year high of $194.80. The business’s 50 day simple moving average is $183.23 and its 200 day simple moving average is $171.44.

General Electric (NYSE:GE) last issued 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 return on equity of 18.93% and a net margin of 11.48%. 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 firm posted $0.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

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.