1,261 Shares in General Electric (NYSE:GE) Bought by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC bought a new position in General Electric (NYSE:GE) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,261 shares of the conglomerate’s stock, valued at approximately $238,000.

A number of other large investors also recently modified their holdings of GE. Kesler Norman & Wride LLC bought a new position in General Electric during the 3rd quarter valued at $284,000. Callan Family Office LLC bought a new position in General Electric during the 3rd quarter valued at $210,000. Aprio Wealth Management LLC lifted its stake in General Electric by 33.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,703 shares of the conglomerate’s stock valued at $321,000 after acquiring an additional 429 shares in the last quarter. Bangor Savings Bank lifted its stake in General Electric by 21.3% during the 3rd quarter. Bangor Savings Bank now owns 2,706 shares of the conglomerate’s stock valued at $510,000 after acquiring an additional 475 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in General Electric by 1.8% during the 3rd quarter. Versant Capital Management Inc now owns 15,352 shares of the conglomerate’s stock valued at $2,895,000 after acquiring an additional 272 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GE. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein began coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. UBS Group lifted their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

General Electric Stock Down 0.6 %

GE stock opened at $185.96 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $203.55 billion, a PE ratio of 60.97, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The stock has a 50-day simple moving average of $173.52 and a two-hundred day simple moving average of $166.06.

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

General Electric Dividend Announcement

The firm 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 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.