Callan Family Office LLC Makes New $210,000 Investment in General Electric (NYSE:GE)

Callan Family Office LLC acquired a new position in shares of General Electric (NYSE:GE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,115 shares of the conglomerate’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after acquiring an additional 57,372 shares during the period. Marietta Investment Partners LLC bought a new stake in shares of General Electric in the second quarter valued at about $1,569,000. Vanguard Group Inc. boosted its position in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares during the period. GAMMA Investing LLC boosted its position in shares of General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after acquiring an additional 3,442 shares during the period. Finally, Senator Investment Group LP bought a new stake in shares of General Electric in the second quarter valued at about $34,973,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

General Electric stock opened at $187.47 on Wednesday. The business has a 50 day moving average of $173.84 and a 200-day moving average of $166.13. General Electric has a 1 year low of $84.42 and a 1 year high of $190.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $205.21 billion, a P/E ratio of 61.47, a P/E/G ratio of 1.87 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $8.44 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. 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 dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GE shares. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Finally, UBS Group upped their price objective on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

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.