Matthew Goff Investment Advisor LLC Sells 117 Shares of General Electric (NYSE:GE)

Matthew Goff Investment Advisor LLC decreased its position in General Electric (NYSE:GE) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,898 shares of the conglomerate’s stock after selling 117 shares during the quarter. General Electric accounts for 1.4% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 22nd biggest holding. Matthew Goff Investment Advisor LLC’s holdings in General Electric were worth $6,138,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Prostatis Group LLC purchased a new position in shares of General Electric in the 4th quarter worth approximately $29,000. Silicon Valley Capital Partners purchased a new position in shares of General Electric in the 4th quarter worth approximately $31,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of General Electric by 808.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 299 shares during the period. Syverson Strege & Co boosted its holdings in shares of General Electric by 53.6% in the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 118 shares during the period. Finally, Financial Freedom LLC purchased a new position in shares of General Electric in the 4th quarter worth approximately $32,000. Institutional investors own 74.83% of the company’s stock.

General Electric Price Performance

GE opened at $116.15 on Tuesday. General Electric has a 12-month low of $48.06 and a 12-month high of $117.96. The company has a current ratio of 1.25, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $112.98 and its 200-day simple moving average is $104.05. The company has a market capitalization of $126.42 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 7.21 and a beta of 1.28.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.22. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The business had revenue of $15.85 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 2.29 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 25th. General Electric’s dividend payout ratio (DPR) is currently 3.80%.

Insider Buying and Selling

In related news, major shareholder General Electric Pension Trust acquired 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder General Electric Pension Trust acquired 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $995.44 per share, for a total transaction of $34,999,670.40. Following the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 57,923 shares of the company’s stock, valued at $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GE shares. Barclays lifted their target price on General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley boosted their price objective on General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Royal Bank of Canada boosted their price objective on General Electric from $120.00 to $130.00 in a report on Wednesday, July 26th. Finally, Citigroup boosted their price objective on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

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.