Mutual of America Capital Management LLC Has $25.79 Million Stake in General Electric (NYSE:GE)

Mutual of America Capital Management LLC cut its stake in shares of General Electric (NYSE:GE) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% in 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 during the period. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter valued at $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in General Electric during the 2nd quarter worth about $31,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Down 0.8 %

Shares of NYSE:GE opened at $176.93 on Friday. General Electric has a 1 year low of $93.05 and a 1 year high of $194.80. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The business has a fifty day moving average price of $182.29 and a two-hundred day moving average price 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 (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by corporate insiders.

About General Electric

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.