Wagner Wealth Management LLC Has $267,000 Holdings in General Electric (NYSE:GE)

Wagner Wealth Management LLC reduced its holdings in General Electric (NYSE:GE) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,418 shares of the conglomerate’s stock after selling 147 shares during the quarter. Wagner Wealth Management LLC’s holdings in General Electric were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GE. Newport Trust Company LLC acquired a new position in General Electric during the 2nd quarter worth $2,613,332,000. Capital World Investors raised its position in shares of General Electric by 2,818.1% during 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 last quarter. Capital International Investors raised its position in shares of General Electric by 9.9% during 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 last quarter. Canada Pension Plan Investment Board increased its position 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 buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric in the 2nd quarter valued at $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE:GE traded up $3.04 during mid-day trading on Friday, hitting $191.16. The stock had a trading volume of 2,983,933 shares, compared to its average volume of 6,415,765. General Electric has a twelve month low of $84.42 and a twelve month high of $191.76. The stock has a market cap of $207.28 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 1.86 and a beta of 1.18. The company’s 50 day simple moving average is $175.61 and its 200 day simple moving average is $166.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 26.54%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.14.

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.