Brendel Financial Advisors LLC Sells 10,400 Shares of General Electric (NYSE:GE)

Brendel Financial Advisors LLC reduced its holdings in General Electric (NYSE:GE) by 90.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,123 shares of the conglomerate’s stock after selling 10,400 shares during the quarter. Brendel Financial Advisors LLC’s holdings in General Electric were worth $212,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GE. Macroview Investment Management LLC raised its holdings in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Allegheny Financial Group LTD lifted its holdings in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares in the last quarter. New England Research & Management Inc. grew its position in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. Certified Advisory Corp grew its stake in General Electric by 1.0% during the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after buying an additional 63 shares in the last quarter. Finally, Argent Trust Co raised its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GE. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada raised their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein began coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Finally, Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.00.

General Electric Stock Performance

Shares of NYSE GE traded down $0.42 during midday trading on Thursday, hitting $188.86. The company’s stock had a trading volume of 813,295 shares, compared to its average volume of 6,425,120. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. General Electric has a 1-year low of $84.42 and a 1-year high of $190.88. The firm’s fifty day moving average price is $174.62 and its 200-day moving average price is $166.37. The firm has a market cap of $206.73 billion, a P/E ratio of 61.63, a P/E/G ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. On average, sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

General Electric Profile

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.