Meeder Asset Management Inc. Sells 398 Shares of General Electric (NYSE:GE)

Meeder Asset Management Inc. lessened its holdings in General Electric (NYSE:GE) by 69.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178 shares of the conglomerate’s stock after selling 398 shares during the quarter. Meeder Asset Management Inc.’s holdings in General Electric were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Studio Investment Management LLC grew its position in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter valued at approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric in the 3rd quarter valued at $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Bank of America raised their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Up 0.5 %

Shares of NYSE:GE opened at $178.87 on Friday. The company has a market capitalization of $193.59 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The business has a 50-day moving average price of $183.17 and a 200 day moving average price of $171.01. 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 released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business 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%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. Sell-side analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

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

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.