Mittelman Wealth Management Sells 1,593 Shares of General Electric (NYSE:GE)

Mittelman Wealth Management reduced its stake in General Electric (NYSE:GE) by 55.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268 shares of the conglomerate’s stock after selling 1,593 shares during the period. General Electric accounts for 0.1% of Mittelman Wealth Management’s portfolio, making the stock its 27th largest position. Mittelman Wealth Management’s holdings in General Electric were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Studio Investment Management LLC boosted its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of General Electric in the 3rd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the third quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric in the 3rd quarter worth about $28,000. 74.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target 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. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Bank of America increased their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Down 2.4 %

Shares of GE opened at $171.37 on Tuesday. The firm has a market capitalization of $185.47 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. General Electric has a 1-year low of $95.71 and a 1-year high of $194.80. The company has a 50-day moving average of $181.76 and a 200 day moving average of $172.48.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, research analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity at General Electric

In other news, 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 transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction 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 sale, 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. 0.66% of the stock is currently owned by corporate insiders.

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.