Vest Financial LLC Purchases 5,422 Shares of General Electric (NYSE:GE)

Vest Financial LLC grew its stake in shares of General Electric (NYSE:GE) by 196.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,181 shares of the conglomerate’s stock after buying an additional 5,422 shares during the period. Vest Financial LLC’s holdings in General Electric were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying 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. GAMMA Investing LLC boosted its holdings in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new stake in shares of General Electric during the second quarter worth about $34,973,000. Finally, Blair William & Co. IL raised its position in shares of General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock worth $28,928,000 after purchasing an additional 7,670 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.0 %

GE stock opened at $192.61 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $178.51 and a two-hundred day moving average price of $167.58. The company has a market cap of $210.83 billion, a price-to-earnings ratio of 63.15, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a twelve month low of $84.42 and a twelve month high of $194.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Ratings Changes

A number of research firms have recently commented on GE. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada increased 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. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.86.

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.