General Electric (NYSE:GE) Shares Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its holdings in shares of General Electric (NYSE:GE) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,924 shares of the conglomerate’s stock after acquiring an additional 706 shares during the period. Silver Oak Securities Incorporated’s holdings in General Electric were worth $885,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays boosted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

GE opened at $179.16 on Friday. 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 52-week low of $84.58 and a 52-week high of $194.80. The company has a 50 day moving average of $179.71 and a two-hundred day moving average of $168.23. The company has a market cap of $196.11 billion, a P/E ratio of 58.74, a P/E/G ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

General Electric 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.