Mutual of America Capital Management LLC Sells 4,794 Shares of General Electric (NYSE:GE)

by · The Markets Daily

Mutual of America Capital Management LLC lowered its position in shares of General Electric (NYSE:GE – Free Report) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,742 shares of the conglomerate’s stock after selling 4,794 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Electric were worth $25,787,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter valued at approximately $27,000. Studio Investment Management LLC increased its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Finally, Costello Asset Management INC raised its holdings in General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.8 %

Shares of GE opened at $176.93 on Friday. The firm has a 50 day simple moving average of $182.29 and a two-hundred day simple moving average of $170.63. 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 one year low of $93.05 and a one year high of $194.80. The company has a market cap of $191.49 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. Research analysts forecast that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Bank of America increased their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

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About General Electric

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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.

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