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

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

A number of other institutional investors have also added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in General Electric in the 3rd quarter worth about $30,000. CreativeOne Wealth LLC increased its position in shares of General Electric by 15.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 22,994 shares of the conglomerate’s stock valued at $4,336,000 after purchasing an additional 3,065 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of General Electric by 300.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 160,001 shares of the conglomerate’s stock valued at $30,173,000 after purchasing an additional 120,000 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of General Electric by 1.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 93,751 shares of the conglomerate’s stock valued at $17,680,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Cynosure Group LLC increased its position in shares of General Electric by 14.5% during the 3rd quarter. Cynosure Group LLC now owns 71,370 shares of the conglomerate’s stock valued at $13,459,000 after purchasing an additional 9,041 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GE shares. Royal Bank of Canada reduced their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Melius Research increased their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.93.

Insider Activity at General Electric

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

General Electric Trading Down 2.2 %

NYSE GE opened at $180.61 on Thursday. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a 50 day simple moving average of $183.23 and a two-hundred day simple moving average of $171.44. The stock has a market cap of $195.47 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last released 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. 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 for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The business 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 dividend on an annualized basis and a 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 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.