General Electric (GE) Shares Sold by Endurance Wealth Management Inc.

Endurance Wealth Management Inc. reduced its holdings in General Electric (NYSE:GE) by 14.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,737 shares of the conglomerate’s stock after selling 19,885 shares during the quarter. Endurance Wealth Management Inc.’s holdings in General Electric were worth $1,657,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. HC Financial Advisors Inc. purchased a new stake in shares of General Electric during the 4th quarter valued at about $281,000. Mutual Advisors LLC bought a new position in shares of General Electric in the 4th quarter worth approximately $872,000. OppenheimerFunds Inc. lifted its stake in shares of General Electric by 11.0% in the 4th quarter. OppenheimerFunds Inc. now owns 19,383,009 shares of the conglomerate’s stock worth $338,233,000 after purchasing an additional 1,915,161 shares during the period. Insight 2811 Inc. lifted its stake in shares of General Electric by 22.6% in the 4th quarter. Insight 2811 Inc. now owns 44,468 shares of the conglomerate’s stock worth $776,000 after purchasing an additional 8,210 shares during the period. Finally, Santori & Peters Inc. bought a new position in shares of General Electric in the 4th quarter worth approximately $120,000. 53.74% of the stock is currently owned by institutional investors.

NYSE GE opened at $13.18 on Monday. General Electric has a 12 month low of $11.21 and a 12 month high of $24.54. The company has a market cap of $98.03 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.14 and a beta of 0.97. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39.

General Electric (NYSE:GE) last released its earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The company had revenue of $30.10 billion for the quarter, compared to analysts’ expectations of $29.39 billion. During the same quarter last year, the business earned $0.21 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that General Electric will post 0.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, September 14th. General Electric’s payout ratio is 45.71%.

In other news, Director H Lawrence Culp, Jr. bought 191,000 shares of the firm’s stock in a transaction on Tuesday, July 24th. The shares were bought at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on GE. Morningstar set a $16.10 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday. ValuEngine upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a research note on Thursday. Bank of America reiterated a “hold” rating and issued a $14.00 price objective on shares of General Electric in a research note on Thursday. Finally, UBS Group cut shares of General Electric to an “add” rating and set a $23.00 price objective on the stock. in a research note on Tuesday, October 2nd. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.42.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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