General Electric (NYSE:GE) Stake Lowered by Xcel Wealth Management LLC

Xcel Wealth Management LLC reduced its stake in shares of General Electric (NYSE:GEFree Report) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 19,141 shares of the conglomerate’s stock after selling 101 shares during the period. General Electric accounts for 0.9% of Xcel Wealth Management LLC’s holdings, making the stock its 29th biggest position. Xcel Wealth Management LLC’s holdings in General Electric were worth $2,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GE. Moneta Group Investment Advisors LLC boosted its holdings in General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares in the last quarter. Norges Bank bought a new stake in General Electric in the fourth quarter worth $635,274,000. State Street Corp boosted its holdings in General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. Brown Advisory Inc. boosted its holdings in General Electric by 265.7% in the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate’s stock worth $332,581,000 after purchasing an additional 2,185,793 shares in the last quarter. Finally, Imprint Wealth LLC boosted its holdings in General Electric by 12,475.5% during the second quarter. Imprint Wealth LLC now owns 1,632,677 shares of the conglomerate’s stock valued at $163,268,000 after acquiring an additional 1,619,694 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Performance

Shares of GE traded down $3.02 during trading hours on Friday, reaching $154.66. 6,847,126 shares of the company traded hands, compared to its average volume of 8,075,693. General Electric has a 1-year low of $74.78 and a 1-year high of $158.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a market cap of $169.08 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. The stock’s fifty day moving average is $157.46 and its 200 day moving average is $132.58.

General Electric (NYSE:GEGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $19.42 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the business posted $1.24 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.35 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is 13.38%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Jefferies Financial Group decreased their price target on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com initiated coverage on shares of General Electric in a report on Friday, April 5th. They set a “hold” rating for the company. Finally, Oppenheimer restated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.67.

Get Our Latest Analysis on GE

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Company Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

See Also

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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