Today, 5,690 Shares of General Electric Co. (GE) are sold by Summit Financial Wealth Advisors LLC

Today, 5,690 Shares of General Electric Co. (GE) are sold by Summit Financial Wealth Advisors LLC
Summit Financial Wealth Advisors LLC decreased its position in General Electric Co. (NYSE:GE) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 98,201 shares of the company’s stock after selling 5,690 shares during the period. General Electric accounts for about 1.3% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 28th largest position. Summit Financial Wealth Advisors LLC’s holdings in General Electric were worth $2,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Catamount Wealth Management increased its position in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the period. Cable Hill Partners LLC increased its position in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the period. Global X Management Co. LLC increased its position in shares of General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares during the period. James Investment Research Inc. increased its position in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Finally, Balentine LLC increased its position in shares of General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock worth $187,000 after buying an additional 2,277 shares during the period. Hedge funds and other institutional investors own 55.46% of the company’s stock.

Shares of General Electric Co. (NYSE:GE) traded up 0.32% during mid-day trading on Friday, reaching $31.44. 13,162,239 shares of the company were exchanged. The firm has a market capitalization of $278.13 billion, a price-to-earnings ratio of 27.03 and a beta of 1.20. The company’s 50-day moving average is $29.53 and its 200 day moving average is $30.43. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 21st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.64 billion. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. Analysts predict that General Electric Co. will post $1.49 EPS for the current year.

A number of equities analysts have commented on GE shares. JPMorgan Chase & Co. set a $28.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Friday, September 23rd. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target on the stock in a research note on Monday, September 19th. Barclays PLC set a $32.00 price target on shares of General Electric and gave the company a “buy” rating in a research note on Monday, October 17th. Citigroup Inc. reduced their price target on shares of General Electric from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Finally, Zacks Investment Research raised shares of General Electric from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.56.

In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $29.24 per share, for a total transaction of $1,462,000.00. Following the completion of the purchase, the chairman now directly owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

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