CMG Global Holdings LLC Cuts Stake in General Electric (NYSE:GE)

CMG Global Holdings LLC reduced its holdings in shares of General Electric (NYSE:GE) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,198 shares of the conglomerate’s stock after selling 1,208 shares during the period. General Electric comprises approximately 2.6% of CMG Global Holdings LLC’s portfolio, making the stock its 11th biggest holding. CMG Global Holdings LLC’s holdings in General Electric were worth $4,703,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Toth Financial Advisory Corp purchased a new position in General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the third quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the third quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Electric during the 4th quarter valued at $29,000. 74.77% of the stock is currently owned by institutional investors.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly 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 SEC, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Sanford C. Bernstein upped their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Stock Up 3.4 %

Shares of General Electric stock opened at $205.89 on Friday. General Electric has a 1 year low of $105.70 and a 1 year high of $207.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The company has a 50-day moving average of $176.42 and a 200 day moving average of $175.79. The firm has a market cap of $222.83 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.48 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, sell-side analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 18.70%.

General Electric 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.