Swiss National Bank Grows Position in General Electric (NYSE:GE)

Swiss National Bank increased its position in shares of General Electric (NYSE:GE) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,249,062 shares of the conglomerate’s stock after purchasing an additional 12,200 shares during the period. Swiss National Bank’s holdings in General Electric were worth $612,708,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Studio Investment Management LLC lifted its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in General Electric during the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric during the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter valued at about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter valued at about $28,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GE. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Down 0.8 %

NYSE:GE opened at $176.93 on Friday. The company has a market cap of $191.49 billion, a PE ratio of 31.09, a P/E/G ratio of 1.75 and a beta of 1.19. General Electric has a twelve month low of $93.05 and a twelve month high of $194.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $182.29 and its two-hundred day moving average is $170.63.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share 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 the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. Analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

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.