Cassaday & Co Wealth Management LLC Sells 146 Shares of General Electric (NYSE:GE)

Cassaday & Co Wealth Management LLC reduced its holdings in shares of General Electric (NYSE:GE) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,730 shares of the conglomerate’s stock after selling 146 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in General Electric were worth $892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Studio Investment Management LLC lifted its holdings in 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 purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $28,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

General Electric stock opened at $176.93 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $93.05 and a 12 month high of $194.80. The stock has a 50-day moving average price of $182.29 and a two-hundred day moving average price of $170.71.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. Analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is 19.68%.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GE. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.