Trust Point Inc. Buys 654 Shares of General Electric (NYSE:GE)

Trust Point Inc. raised its holdings in shares of General Electric (NYSE:GE) by 11.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,445 shares of the conglomerate’s stock after purchasing an additional 654 shares during the period. Trust Point Inc.’s holdings in General Electric were worth $1,215,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Tsfg LLC lifted its stake in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares during the period. Macroview Investment Management LLC raised its position in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Strategic Advisors LLC raised its position in shares of General Electric by 2.6% in the third quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD increased its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the last quarter. Finally, New England Research & Management Inc. increased its position in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.86.

General Electric Stock Performance

GE traded down $0.38 during trading on Friday, hitting $192.24. The stock had a trading volume of 966,123 shares, compared to its average volume of 6,323,645. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $210.43 billion, a P/E ratio of 62.88, a PEG ratio of 1.86 and a beta of 1.18. The company’s 50-day moving average price is $178.01 and its 200 day moving average price is $167.09. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

General Electric (NYSE:GE) last announced 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. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, equities research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.58%. General Electric’s dividend payout ratio is currently 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.