Cahill Financial Advisors Inc. Increases Position in General Electric (NYSE:GE)

Cahill Financial Advisors Inc. boosted its holdings in General Electric (NYSE:GE) by 8.8% in the third quarter, HoldingsChannel reports. The firm owned 1,440 shares of the conglomerate’s stock after purchasing an additional 116 shares during the period. Cahill Financial Advisors Inc.’s holdings in General Electric were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GE. Tsfg LLC lifted its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the last quarter. Macroview Investment Management LLC lifted its stake in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the last quarter. Strategic Advisors LLC boosted its holdings in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after buying an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its stake in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock valued at $1,188,000 after buying an additional 60 shares during the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

NYSE:GE opened at $181.15 on Monday. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm’s 50-day simple moving average is $183.22 and its 200 day simple moving average is $171.13. The firm has a market cap of $196.06 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 1.78 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GE. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada lowered their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Buying and Selling at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric 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.