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

Sippican Capital Advisors boosted its holdings in General Electric (NYSE:GE) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,812 shares of the conglomerate’s stock after acquiring an additional 88 shares during the period. General Electric accounts for about 2.2% of Sippican Capital Advisors’ 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 hedge funds and other institutional investors have also recently modified their holdings of the business. Studio Investment Management LLC grew its stake in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased 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.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Down 2.1 %

GE stock traded down $3.62 during midday trading on Thursday, hitting $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 capitalization of $185.09 billion, a P/E ratio of 30.70, a PEG ratio of 1.74 and a beta of 1.18. 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 has a twelve month low of $84.66 and a twelve month high of $194.80. The company’s fifty day moving average price is $180.14 and its 200 day moving average price is $168.87.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. As a group, equities research 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 given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

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.