Kesler Norman & Wride LLC Invests $284,000 in General Electric (NYSE:GE)

Kesler Norman & Wride LLC purchased a new position in General Electric (NYSE:GE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,505 shares of the conglomerate’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC raised its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in General Electric in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in General Electric in the first quarter valued at approximately $34,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter valued at approximately $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in General Electric in the first quarter valued at approximately $37,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on GE shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

General Electric Stock Performance

NYSE:GE opened at $187.47 on Wednesday. The stock has a market cap of $205.21 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The firm’s fifty day simple moving average is $173.84 and its 200 day simple moving average is $166.13. General Electric has a twelve month low of $84.42 and a twelve month high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.