Integris Wealth Management LLC Takes Position in General Electric (NYSE:GE)

Integris Wealth Management LLC bought a new stake in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,108 shares of the conglomerate’s stock, valued at approximately $209,000.

Several other hedge funds have also recently added to or reduced their stakes in GE. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter worth approximately $2,613,332,000. Capital World Investors raised its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors raised its holdings in shares of General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the 2nd quarter worth approximately $580,200,000. Institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

GE has been the subject of a number of recent analyst reports. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their target price on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Down 0.0 %

Shares of NYSE:GE traded down $0.01 during midday trading on Friday, reaching $192.61. The company had a trading volume of 3,075,931 shares, compared to its average volume of 6,334,083. The business’s 50 day moving average price is $178.51 and its 200 day moving average price is $167.21. The stock has a market cap of $210.83 billion, a PE ratio of 63.12, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $84.42 and a 1-year high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm 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 business’s 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 earnings per share. Research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm 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 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

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.