Cibc World Markets Corp Raises Position in General Electric (NYSE:GE)

Cibc World Markets Corp increased its holdings in General Electric (NYSE:GE) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,837 shares of the conglomerate’s stock after purchasing an additional 23,069 shares during the quarter. Cibc World Markets Corp’s holdings in General Electric were worth $28,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GWN Securities Inc. purchased a new position in General Electric in the 4th quarter worth $1,084,000. Glenview Trust co raised its position in General Electric by 1.9% in the 4th quarter. Glenview Trust co now owns 11,750 shares of the conglomerate’s stock worth $1,960,000 after purchasing an additional 214 shares during the period. Patten & Patten Inc. TN raised its position in General Electric by 1.7% in the 4th quarter. Patten & Patten Inc. TN now owns 12,731 shares of the conglomerate’s stock worth $2,123,000 after purchasing an additional 211 shares during the period. Corient Private Wealth LLC raised its position in General Electric by 2.7% in the 4th quarter. Corient Private Wealth LLC now owns 234,948 shares of the conglomerate’s stock worth $38,499,000 after purchasing an additional 6,199 shares during the period. Finally, Ascent Capital Management LLC purchased a new position in General Electric in the 4th quarter worth $365,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

Shares of GE opened at $197.39 on Monday. The stock has a market cap of $211.85 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. General Electric has a fifty-two week low of $131.91 and a fifty-two week high of $212.19. The firm’s 50-day simple moving average is $195.54 and its two-hundred day simple moving average is $184.00.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. General Electric’s dividend payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. Redburn Atlantic began coverage on shares of General Electric in a research note on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

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.