Accurate Wealth Management LLC Sells 160 Shares of General Electric (NYSE:GE)

Accurate Wealth Management LLC lessened its holdings in General Electric (NYSE:GE) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,344 shares of the conglomerate’s stock after selling 160 shares during the period. Accurate Wealth Management LLC’s holdings in General Electric were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new position in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric during the 3rd quarter worth $27,000. Peterson Financial Group Inc. bought a new position in General Electric during the 3rd quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in General Electric during the 3rd quarter worth $30,000. Institutional investors own 74.77% of the company’s stock.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Stock Performance

NYSE:GE opened at $180.34 on Thursday. The stock’s 50-day simple moving average is $174.37 and its 200 day simple moving average is $173.74. General Electric has a twelve month low of $100.95 and a twelve month high of $194.80. The firm has a market capitalization of $195.18 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly 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 firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. Citigroup increased their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

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.