CIBC Asset Management Inc Buys 6,937 Shares of General Electric (NYSE:GE)

CIBC Asset Management Inc grew its position in General Electric (NYSE:GE) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 165,223 shares of the conglomerate’s stock after acquiring an additional 6,937 shares during the period. CIBC Asset Management Inc’s holdings in General Electric were worth $27,558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Game Plan Financial Advisors LLC raised its position in General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after purchasing an additional 55 shares during the period. Red Door Wealth Management LLC increased its holdings in shares of General Electric by 4.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock worth $241,000 after buying an additional 56 shares during the period. Saxon Interests Inc. lifted its stake in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 57 shares during the last quarter. Old North State Wealth Management LLC boosted its holdings in General Electric by 3.0% during the 4th quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock valued at $331,000 after acquiring an additional 58 shares during the period. Finally, Northeast Investment Management increased its stake in General Electric by 2.2% in the 4th quarter. Northeast Investment Management now owns 2,708 shares of the conglomerate’s stock worth $452,000 after purchasing an additional 59 shares during the period. Institutional investors own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report 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. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Price Performance

Shares of GE stock opened at $208.62 on Tuesday. The business’s fifty day moving average is $182.66 and its 200 day moving average is $179.40. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is presently 18.70%.

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.