General Electric (NYSE:GE) Shares Sold by Atlas Wealth LLC

Atlas Wealth LLC lessened its holdings in shares of General Electric (NYSE:GE) by 94.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,926 shares of the conglomerate’s stock after selling 51,075 shares during the quarter. Atlas Wealth LLC’s holdings in General Electric were worth $552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter valued at approximately $28,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling at General Electric

In other news, 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 of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Up 0.9 %

NYSE:GE opened at $182.16 on Monday. The stock’s 50-day moving average is $183.01 and its two-hundred day moving average is $171.80. 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 stock has a market cap of $197.15 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.79 and a beta of 1.19. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.02 billion. During the same period in the previous year, the company posted $0.82 EPS. General Electric’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

General Electric 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.