Catalytic Wealth RIA LLC Trims Stock Position in General Electric (NYSE:GE)

Catalytic Wealth RIA LLC cut its position in shares of General Electric (NYSE:GE) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,969 shares of the conglomerate’s stock after selling 116 shares during the period. Catalytic Wealth RIA LLC’s holdings in General Electric were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GE. Newport Trust Company LLC purchased a new position in General Electric during the second quarter worth about $2,613,332,000. Capital World Investors raised its stake in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Capital International Investors raised its stake in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of General Electric in the 2nd quarter valued at approximately $580,200,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $184.62 on Tuesday. The stock has a market cap of $199.81 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.82 and a beta of 1.19. General Electric has a 52 week low of $91.77 and a 52 week high of $194.80. The company’s 50-day moving average price is $180.78 and its 200 day moving average price is $170.03. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data 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 net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given 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 0.61%. General Electric’s dividend payout ratio is presently 19.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

About General Electric

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.