General Electric (NYSE:GE) Stock Holdings Lessened by Burke & Herbert Bank & Trust Co.

by · The Cerbat Gem

Burke & Herbert Bank & Trust Co. lessened its holdings in shares of General Electric (NYSE:GE – Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,666 shares of the conglomerate’s stock after selling 98 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in General Electric were worth $1,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Newport Trust Company LLC acquired a new position in General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors boosted its holdings in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Capital International Investors grew its position in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric in the 2nd quarter worth about $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted 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 increased their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

View Our Latest Report on GE

General Electric Price Performance

Shares of NYSE:GE traded up $0.72 on Friday, reaching $180.46. 606,246 shares of the company traded hands, compared to its average volume of 6,349,415. The stock has a market capitalization of $197.53 billion, a PE ratio of 58.90, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company’s 50 day moving average is $179.51 and its 200-day moving average is $168.15. General Electric has a fifty-two week low of $84.58 and a fifty-two week high of $194.80.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. General Electric’s dividend payout ratio is currently 36.72%.

General Electric Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Free Report).