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

Xcel Wealth Management LLC trimmed its holdings in General Electric (NYSE:GE) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,104 shares of the conglomerate’s stock after selling 75 shares during the quarter. General Electric accounts for about 1.1% of Xcel Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Xcel Wealth Management LLC’s holdings in General Electric were worth $3,603,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GE. Toth Financial Advisory Corp bought a new stake in General Electric during the third quarter worth approximately $25,000. Studio Investment Management LLC boosted 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 acquiring an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter worth $31,000. Richardson Financial Services Inc. acquired a new stake in shares of General Electric during the first quarter worth $34,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of General Electric during the second quarter valued at $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Down 8.5 %

Shares of General Electric stock traded down $16.56 on Tuesday, hitting $177.67. 10,775,727 shares of the company’s stock traded hands, compared to its average volume of 6,346,594. The firm’s 50-day moving average price is $179.06 and its two-hundred day moving average price is $167.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $194.48 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. General Electric has a one year low of $84.58 and a one year high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. On average, research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday. 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 data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $198.53.

About General Electric

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.