General Electric (NYSE:GE) Shares Purchased by Bangor Savings Bank

Bangor Savings Bank raised its stake in General Electric (NYSE:GE) by 21.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,706 shares of the conglomerate’s stock after buying an additional 475 shares during the quarter. Bangor Savings Bank’s holdings in General Electric were worth $510,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC grew its position in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in General Electric in the second quarter valued at about $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter worth $32,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new position in General Electric during the 1st quarter worth $34,000. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $193.00.

General Electric Stock Down 0.6 %

Shares of GE opened at $185.96 on Tuesday. The stock’s 50-day moving average price is $173.52 and its two-hundred day moving average price is $166.06. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $84.42 and a 12 month high of $190.88. The company 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 (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during 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 firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. On average, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is currently 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.