Atlas Wealth LLC Reduces Position in General Electric (NYSE:GE)

Atlas Wealth LLC trimmed its holdings in General Electric (NYSE:GE - Free Report) by 94.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in General Electric by 15.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,822 shares of the conglomerate's stock worth $608,000 after buying an additional 499 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of General Electric during the 2nd quarter worth about $219,000. Mather Group LLC. increased its stake in shares of General Electric by 124.1% in the 2nd quarter. Mather Group LLC. now owns 17,444 shares of the conglomerate's stock valued at $3,062,000 after purchasing an additional 9,661 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of General Electric by 16.5% in the 2nd quarter. Trust Co. of Vermont now owns 6,325 shares of the conglomerate's stock valued at $1,005,000 after purchasing an additional 896 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in General Electric in the 2nd quarter worth about $129,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Trading Down 1.0 %

Shares of NYSE GE traded down $1.75 during midday trading on Monday, reaching $180.41. 2,816,562 shares of the stock were exchanged, compared to its average volume of 6,140,278. The company has a 50 day simple moving average of $183.01 and a 200 day simple moving average of $171.80. The stock has a market capitalization of $195.25 billion, a P/E ratio of 31.71, a PEG ratio of 1.79 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 has a twelve month low of $94.54 and a twelve month high of $194.80.

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General Electric (NYSE:GE - Get Free Report) last posted 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. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric's payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

Several brokerages have commented on GE. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. 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 note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric has a consensus rating of "Moderate Buy" and a consensus price target of $200.93.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company's stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

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.