Canandaigua National Bank & Trust Co. Sells 94 Shares of General Electric (NYSE:GE)

Canandaigua National Bank & Trust Co. lessened its stake in shares of General Electric (NYSE:GE) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,356 shares of the conglomerate’s stock after selling 94 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in General Electric were worth $2,707,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Mackenzie Financial Corp increased its stake in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in General Electric during the second quarter worth about $1,569,000. Vanguard Group Inc. increased its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. GAMMA Investing LLC raised its stake in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock valued at $2,702,000 after buying an additional 3,442 shares during the period. Finally, Senator Investment Group LP acquired a new stake in shares of General Electric in the second quarter valued at approximately $34,973,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Performance

NYSE:GE opened at $183.89 on Friday. The company has a market cap of $201.29 billion, a price-to-earnings ratio of 60.29, a PEG ratio of 1.87 and a beta of 1.18. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88. 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 stock has a fifty day moving average price of $173.17 and a 200-day moving average price of $169.67.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. General Electric’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GE. Jefferies Financial Group increased their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.