Xcel Wealth Management LLC Has $3.60 Million Stake in General Electric (NYSE:GE)

Xcel Wealth Management LLC cut its position in shares of General Electric (NYSE:GE) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,104 shares of the conglomerate’s stock after selling 75 shares during the quarter. General Electric accounts for about 1.1% of Xcel Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Xcel Wealth Management LLC’s holdings in General Electric were worth $3,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter valued at $2,613,332,000. Capital World Investors increased its stake 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 worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the last quarter. Capital International Investors raised its holdings 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 purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its holdings 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 purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in General Electric during the second quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE traded down $16.56 during midday trading on Tuesday, hitting $177.67. The company’s stock had a trading volume of 10,775,727 shares, compared to its average volume of 6,346,594. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $84.58 and a one year high of $194.80. The stock has a market capitalization of $194.48 billion, a price-to-earnings ratio of 57.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18. The company’s fifty day simple moving average is $179.06 and its two-hundred day simple moving average is $167.91.

General Electric (NYSE:GE) last issued 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. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GE shares. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.53.

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.