Xcel Wealth Management LLC Reduces Stake in General Electric (NYSE:GE)

Xcel Wealth Management LLC reduced its position in General Electric (NYSE:GEFree Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,141 shares of the conglomerate’s stock after selling 101 shares during the period. General Electric comprises 0.9% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Xcel Wealth Management LLC’s holdings in General Electric were worth $2,443,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Halpern Financial Inc. grew its holdings in General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the last quarter. CGC Financial Services LLC grew its holdings in General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after buying an additional 299 shares during the last quarter. Financial Freedom LLC acquired a new stake in General Electric during the 4th quarter valued at $32,000. Finally, Macroview Investment Management LLC grew its holdings in General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock valued at $35,000 after buying an additional 96 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Down 1.9 %

Shares of NYSE GE traded down $3.02 during midday trading on Friday, reaching $154.66. 6,847,126 shares of the company’s stock were exchanged, compared to its average volume of 8,075,693. General Electric has a 52-week low of $74.78 and a 52-week high of $158.44. The stock has a market capitalization of $169.08 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. 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 business’s fifty day moving average price is $157.46 and its two-hundred day moving average price is $132.58.

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

General Electric Increases Dividend

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

Insider Transactions at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of 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 filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GE. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Barclays decreased their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Royal Bank of Canada decreased their price objective on General Electric from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Finally, Vertical Research started coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.67.

Read Our Latest Research Report on GE

About General Electric

(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.

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

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