Atlas Wealth LLC Sells 51,075 Shares of General Electric (NYSE:GE)

Atlas Wealth LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 94.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,926 shares of the conglomerate’s stock after selling 51,075 shares during the period. Atlas Wealth LLC’s holdings in General Electric were worth $552,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GE. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC increased its position in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in General Electric in the 2nd quarter valued at $580,200,000. International Assets Investment Management LLC increased its position in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after purchasing an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. raised its holdings in General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were 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 approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 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. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group upped their target price 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. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada cut their target price on 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, Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Up 0.9 %

NYSE:GE opened at $182.16 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a market cap of $197.15 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 1.79 and a beta of 1.19. The business has a 50 day moving average price of $183.01 and a two-hundred day moving average price of $171.80.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (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 firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the business earned $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.