Endurance Wealth Management Inc. decreased its stake in shares of General Electric (NYSE:GE – Get Rating) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,683 shares of the conglomerate’s stock after selling 303 shares during the period. Endurance Wealth Management Inc.’s holdings in General Electric were worth $703,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GE. Strategic Financial Services Inc increased its position in shares of General Electric by 2.8% during the 4th quarter. Strategic Financial Services Inc now owns 3,810 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 104 shares during the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of General Electric by 5.2% during the 4th quarter. Tradewinds Capital Management LLC now owns 2,177 shares of the conglomerate’s stock worth $206,000 after acquiring an additional 108 shares during the last quarter. JNBA Financial Advisors increased its holdings in shares of General Electric by 18.6% during the 4th quarter. JNBA Financial Advisors now owns 719 shares of the conglomerate’s stock worth $68,000 after acquiring an additional 113 shares during the last quarter. Avantax Planning Partners Inc. increased its holdings in shares of General Electric by 3.1% during the 4th quarter. Avantax Planning Partners Inc. now owns 3,747 shares of the conglomerate’s stock worth $354,000 after acquiring an additional 114 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of General Electric by 2.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 4,377 shares of the conglomerate’s stock worth $414,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.
NYSE:GE opened at $63.67 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. The business has a fifty day simple moving average of $73.93 and a two hundred day simple moving average of $87.45. General Electric has a 1-year low of $61.76 and a 1-year high of $116.17. The company has a market capitalization of $70.08 billion, a P/E ratio of -13.90, a P/E/G ratio of 3.40 and a beta of 1.01.
General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The firm had revenue of $17.04 billion during the quarter, compared to analyst estimates of $16.92 billion. During the same period last year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 2.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, June 27th. General Electric’s payout ratio is currently -6.99%.
In related news, major shareholder Electric Co. General sold 72,025,826 shares of General Electric stock in a transaction on Friday, May 6th. The stock was sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the completion of the sale, the insider now owns 3,931,363 shares of the company’s stock, valued at $135,435,455.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paula Rosput Reynolds purchased 1,200 shares of the company’s stock in a transaction on Friday, May 6th. The shares were purchased at an average cost of $77.65 per share, with a total value of $93,180.00. Following the purchase, the director now owns 5,563 shares of the company’s stock, valued at $431,966.95. The disclosure for this purchase can be found here. Insiders bought 69,801 shares of company stock valued at $5,207,705 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
A number of research firms have recently weighed in on GE. Wells Fargo & Company cut their target price on General Electric from $84.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday. Bank of America lowered their target price on General Electric from $132.00 to $120.00 in a report on Wednesday, April 27th. The Goldman Sachs Group decreased their price target on General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Morgan Stanley decreased their price target on General Electric from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, May 31st. Finally, Barclays cut their target price on General Electric from $100.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 24th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.36.
General Electric Company Profile: (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments. Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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.
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