CIBC Asset Management Inc Purchases 11,057 Shares of General Electric (NYSE:GE)

CIBC Asset Management Inc lifted its holdings in shares of General Electric (NYSE:GE - Free Report) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,286 shares of the conglomerate's stock after acquiring an additional 11,057 shares during the quarter. CIBC Asset Management Inc's holdings in General Electric were worth $29,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. OneDigital Investment Advisors LLC boosted its holdings in shares of General Electric by 66.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 52,780 shares of the conglomerate's stock valued at $9,953,000 after buying an additional 20,995 shares in the last quarter. Lifeworks Advisors LLC purchased a new stake in General Electric in the third quarter worth about $258,000. Intelligence Driven Advisers LLC increased its stake in shares of General Electric by 29.1% during the third quarter. Intelligence Driven Advisers LLC now owns 3,757 shares of the conglomerate's stock valued at $708,000 after purchasing an additional 847 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of General Electric by 4.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,352 shares of the conglomerate's stock valued at $5,912,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Planning Capital Management Corp grew its stake in shares of General Electric by 918.2% in the 3rd quarter. Planning Capital Management Corp now owns 560 shares of the conglomerate's stock worth $106,000 after buying an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their price target on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has a consensus rating of "Moderate Buy" and an average price target of $200.93.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the business's 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 transaction, the senior vice president now owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Performance

NYSE GE traded down $1.47 on Friday, reaching $176.93. 5,302,109 shares of the stock were exchanged, compared to its average volume of 6,243,640. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $93.05 and a one year high of $194.80. The firm has a market capitalization of $191.49 billion, a PE ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. The company's 50-day simple moving average is $182.29 and its two-hundred day simple moving average is $170.57.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. Analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric's dividend payout ratio (DPR) is 19.68%.

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.