Wealth Dimensions Group Ltd. Lowers Position in General Electric (NYSE:GE)

Wealth Dimensions Group Ltd. reduced its position in shares of General Electric (NYSE:GE) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,290 shares of the conglomerate’s stock after selling 118 shares during the period. Wealth Dimensions Group Ltd.’s holdings in General Electric were worth $1,375,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC grew its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric in the third quarter valued at about $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of General Electric during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GE shares. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Melius Research lifted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

Insider Transactions at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the firm’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 in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $181.15 on Friday. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80. The company’s 50 day simple moving average is $183.22 and its 200 day simple moving average is $171.12. The company has a market capitalization of $196.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

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, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, sell-side analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 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.