Cyr Financial Inc. Acquires New Shares in General Electric (NYSE:GE)

Cyr Financial Inc. bought a new stake in shares of General Electric (NYSE:GE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,397 shares of the conglomerate's stock, valued at approximately $733,000. General Electric accounts for approximately 0.7% of Cyr Financial Inc.'s investment portfolio, making the stock its 29th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock worth $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. International Assets Investment Management LLC raised its holdings in General Electric by 21,069.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate's stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock worth $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. grew its holdings in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock worth $278,247,000 after purchasing an additional 973,135 shares in the last quarter. Finally, State Street Corp increased its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America upped their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday. Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.73.

General Electric Price Performance

Shares of NYSE:GE traded down $1.98 during midday trading on Friday, reaching $203.59. The company's stock had a trading volume of 5,503,704 shares, compared to its average volume of 6,393,280. The business's fifty day simple moving average is $176.96 and its 200-day simple moving average is $176.00. The company has a market capitalization of $220.35 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a fifty-two week low of $105.70 and a fifty-two week high of $207.65.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. General Electric's payout ratio is 18.70%.

Insider Activity

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