Bank of Montreal Can Increases Stake in General Electric (NYSE:GE)

Bank of Montreal Can boosted its stake in General Electric (NYSE:GE) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,158,380 shares of the conglomerate’s stock after purchasing an additional 13,042 shares during the period. Bank of Montreal Can owned about 0.11% of General Electric worth $189,685,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Macroview Investment Management LLC boosted its stake in shares of 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 acquiring an additional 58 shares during the period. Allegheny Financial Group LTD grew its holdings in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares in the last quarter. New England Research & Management Inc. grew its holdings in General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares in the last quarter. Certified Advisory Corp grew its holdings in General Electric by 1.0% during the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after buying an additional 63 shares in the last quarter. Finally, Argent Trust Co grew its holdings in General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after buying an additional 64 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on GE shares. Jefferies Financial Group raised their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, UBS Group lifted their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Up 0.7 %

General Electric stock opened at $188.71 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The business’s 50-day simple moving average is $169.27 and its two-hundred day simple moving average is $170.43. The company has a market cap of $206.56 billion, a PE ratio of 61.87, a PEG ratio of 1.65 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $189.78.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Equities analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

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

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.