Community Trust & Investment Co. Takes Position in General Electric (NYSE:GE)

Community Trust & Investment Co. bought a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,588 shares of the conglomerate’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in shares of General Electric by 1.7% during the 3rd quarter. Private Advisor Group LLC now owns 98,308 shares of the conglomerate’s stock valued at $18,539,000 after purchasing an additional 1,670 shares during the last quarter. FSC Wealth Advisors LLC grew its holdings in shares of General Electric by 27.2% during the 3rd quarter. FSC Wealth Advisors LLC now owns 467 shares of the conglomerate’s stock valued at $88,000 after purchasing an additional 100 shares during the last quarter. Sebold Capital Management Inc. grew its holdings in shares of General Electric by 7.1% during the 3rd quarter. Sebold Capital Management Inc. now owns 1,681 shares of the conglomerate’s stock valued at $317,000 after purchasing an additional 111 shares during the last quarter. Pictet North America Advisors SA grew its holdings in shares of General Electric by 18.0% during the 3rd quarter. Pictet North America Advisors SA now owns 33,674 shares of the conglomerate’s stock valued at $6,350,000 after purchasing an additional 5,126 shares during the last quarter. Finally, Symphony Financial Ltd. Co. grew its holdings in shares of General Electric by 34.2% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 2,015 shares of the conglomerate’s stock valued at $374,000 after purchasing an additional 513 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. Sanford C. Bernstein lifted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.53.

General Electric Stock Down 9.1 %

Shares of NYSE GE opened at $176.59 on Wednesday. The firm has a market cap of $193.30 billion, a PE ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. General Electric has a 12-month low of $84.58 and a 12-month high of $194.80. The company’s fifty day simple moving average is $179.24 and its 200 day simple moving average is $168.05. 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 (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. General Electric’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 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.