SFG Wealth Management LLC. Sells 13,407 Shares of General Electric (NYSE:GE)

SFG Wealth Management LLC. lessened its stake in shares of General Electric (NYSE:GE) by 85.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,229 shares of the conglomerate’s stock after selling 13,407 shares during the period. SFG Wealth Management LLC.’s holdings in General Electric were worth $372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP purchased a new position in General Electric during the 2nd quarter valued at $560,000. Benjamin F. Edwards & Company Inc. increased its position in shares of General Electric by 8.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock worth $1,847,000 after acquiring an additional 936 shares during the period. Benjamin Edwards Inc. raised its position in General Electric by 6.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 87 shares in the last quarter. AE Wealth Management LLC grew its position in shares of General Electric by 78.6% during the 2nd quarter. AE Wealth Management LLC now owns 31,287 shares of the conglomerate’s stock worth $4,974,000 after buying an additional 13,767 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of General Electric by 10.2% during the second quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after buying an additional 10,609 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.7 %

NYSE:GE opened at $182.83 on Monday. The company has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a PEG ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $101.16 and a 12 month high of $194.80. The firm has a fifty day simple moving average of $174.33 and a 200-day simple moving average of $174.08.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities research analysts anticipate that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

GE has been the topic of several research reports. Citigroup lifted their price objective 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. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

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.