General Electric (NYSE:GE) Shares Acquired by Sippican Capital Advisors

Sippican Capital Advisors raised its holdings in General Electric (NYSE:GE) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,812 shares of the conglomerate’s stock after acquiring an additional 88 shares during the period. General Electric comprises about 2.2% of Sippican Capital Advisors’ investment portfolio, making the stock its 7th largest holding. Sippican Capital Advisors’ holdings in General Electric were worth $3,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Studio Investment Management LLC grew its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the third quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric in the second quarter valued at about $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of General Electric stock traded down $3.62 during trading hours on Thursday, reaching $171.02. The company’s stock had a trading volume of 590,793 shares, compared to its average volume of 6,317,131. The stock has a market cap of $185.09 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.74 and a beta of 1.18. General Electric has a one year low of $84.66 and a one year high of $194.80. The firm has a 50 day moving average price of $180.14 and a 200-day moving average price of $168.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. On average, analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

A number of analysts have recently commented on GE shares. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein upped their target price on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

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.