Canandaigua National Bank & Trust Co. Has $2.71 Million Stock Holdings in General Electric (NYSE:GE)

Canandaigua National Bank & Trust Co. decreased its stake in shares of General Electric (NYSE:GE) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,356 shares of the conglomerate’s stock after selling 94 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in General Electric were worth $2,707,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in General Electric during the 2nd quarter worth $31,000. Kapitalo Investimentos Ltda bought a new position in General Electric in the 4th quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric during the first quarter worth $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

NYSE GE opened at $183.89 on Friday. 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 stock has a market cap of $201.29 billion, a price-to-earnings ratio of 60.29, a PEG ratio of 1.87 and a beta of 1.18. The business has a 50 day simple moving average of $173.17 and a 200 day simple moving average of $169.67. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88.

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

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of research reports. 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 research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein began coverage on shares of General Electric in a report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price for the company. Finally, UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

General Electric Company 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.