FSM Wealth Advisors LLC Cuts Stock Holdings in General Electric (NYSE:GE)

FSM Wealth Advisors LLC trimmed its position in shares of General Electric (NYSE:GE) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,185 shares of the conglomerate’s stock after selling 137 shares during the period. FSM Wealth Advisors LLC’s holdings in General Electric were worth $465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of General Electric by 5.7% during the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after purchasing an additional 3,463,502 shares in the last quarter. State Street Corp grew its holdings in shares of General Electric by 17.3% during the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after buying an additional 7,157,356 shares during the last quarter. TCI Fund Management Ltd. purchased a new stake in General Electric in the first quarter worth approximately $2,496,379,000. Geode Capital Management LLC boosted its holdings in General Electric by 1.7% in the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock worth $1,837,514,000 after purchasing an additional 319,196 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares during the last quarter. 74.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 112,614 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the completion of the transaction, the senior vice president now directly owns 57,923 shares in the company, valued at $6,672,729.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael J. Holston sold 112,614 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the completion of the sale, the senior vice president now directly owns 57,923 shares in the company, valued at $6,672,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder General Electric Pension Trust bought 35,160 shares of General Electric stock in a transaction dated Friday, June 30th. The stock was acquired at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of General Electric from $120.00 to $130.00 in a research report on Wednesday, July 26th. Bank of America raised their price objective on shares of General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Oppenheimer downgraded shares of General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Jefferies Financial Group raised their price objective on shares of General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Morgan Stanley raised their price objective on shares of General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

General Electric Stock Up 1.5 %

Shares of NYSE:GE traded up $1.69 during trading hours on Monday, hitting $117.18. The company’s stock had a trading volume of 1,788,258 shares, compared to its average volume of 6,121,509. General Electric has a 52 week low of $48.06 and a 52 week high of $117.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. The company has a market capitalization of $127.54 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 7.22 and a beta of 1.28. The firm’s fifty day moving average price is $112.98 and its 200 day moving average price is $104.05.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 EPS for the quarter, topping the consensus estimate of $0.46 by $0.22. The firm had revenue of $15.85 billion during the quarter, compared to analyst estimates of $14.76 billion. General Electric had a net margin of 13.32% and a return on equity of 9.30%. General Electric’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, research analysts expect that General Electric will post 2.29 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Monday, September 25th. General Electric’s dividend payout ratio (DPR) is presently 3.80%.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.