CMG Global Holdings LLC Sells 1,208 Shares of General Electric (NYSE:GE)

CMG Global Holdings LLC lowered its holdings in shares of General Electric (NYSE:GE) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,198 shares of the conglomerate’s stock after selling 1,208 shares during the period. General Electric makes up about 2.6% of CMG Global Holdings LLC’s holdings, making the stock its 11th biggest position. CMG Global Holdings LLC’s holdings in General Electric were worth $4,703,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GE. Catalyst Capital Advisors LLC increased its stake in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new position in General Electric during the fourth quarter worth about $733,000. State Street Corp grew its position in General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its position in General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after buying an additional 5,162 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’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 approximately $26,539,714.53. The trade was 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 owned by corporate insiders.

General Electric Stock Performance

NYSE GE opened at $205.89 on Friday. The firm has a market cap of $222.83 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $176.42 and its 200-day moving average is $175.79. General Electric has a 12-month low of $105.70 and a 12-month high of $207.65.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Sell-side analysts predict that General Electric will post 5.39 earnings per share for the current 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 paid a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 annualized dividend and a yield of 0.54%. General Electric’s dividend payout ratio is currently 18.70%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America raised their target price on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned 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.

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.