General Electric (NYSE:GE) Shares Acquired by Cannon Wealth Management Services LLC

Cannon Wealth Management Services LLC boosted its position in General Electric (NYSE:GE) by 14.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,256 shares of the conglomerate’s stock after acquiring an additional 158 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in General Electric were worth $209,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in General Electric in the 3rd quarter valued at $25,000. Hager Investment Management Services LLC acquired a new position in General Electric in the 4th quarter valued at $27,000. Peterson Financial Group Inc. acquired a new position in General Electric in the 3rd quarter valued at $28,000. Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter valued at $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in General Electric in the 3rd quarter valued at $30,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GE has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Citigroup upped their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group upped their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Performance

Shares of General Electric stock opened at $199.90 on Monday. The business has a 50-day moving average of $186.57 and a 200 day moving average of $180.98. General Electric has a 12 month low of $119.88 and a 12 month high of $212.19. The stock has a market capitalization of $214.55 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, sell-side analysts forecast that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 18.70%.

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.