Cutter & CO Brokerage Inc. Takes Position in General Electric (NYSE:GE)

Cutter & CO Brokerage Inc. purchased a new position in shares of General Electric (NYSE:GE) in the third quarter, HoldingsChannel reports. The fund purchased 1,445 shares of the conglomerate’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC boosted its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of General Electric in the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric in the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of General Electric during the second quarter worth $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several recent research reports. Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 1.0 %

NYSE GE traded down $1.75 during trading on Tuesday, hitting $173.61. The stock had a trading volume of 481,400 shares, compared to its average volume of 6,335,613. The company has a market capitalization of $188.25 billion, a PE ratio of 30.81, a PEG ratio of 1.74 and a beta of 1.18. General Electric has a twelve month low of $84.66 and a twelve month high of $194.80. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $179.99 and a 200 day moving average price of $168.69.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.65%. General Electric’s payout ratio is currently 19.68%.

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.