Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in General Electric (NYSE:GE)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of General Electric (NYSE:GE) by 47.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 646,452 shares of the conglomerate’s stock after purchasing an additional 207,672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Electric were worth $107,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Barn Wealth LLC lifted its holdings in shares of General Electric by 3.8% in the 4th quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after buying an additional 54 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of General Electric by 10.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock valued at $96,000 after buying an additional 55 shares during the period. Red Door Wealth Management LLC lifted its holdings in shares of General Electric by 4.0% in the 4th quarter. Red Door Wealth Management LLC now owns 1,444 shares of the conglomerate’s stock valued at $241,000 after buying an additional 56 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of General Electric by 30.6% in the 4th quarter. WR Wealth Planners LLC now owns 239 shares of the conglomerate’s stock valued at $40,000 after buying an additional 56 shares during the period. Finally, Saxon Interests Inc. lifted its holdings in shares of General Electric by 4.2% in the 4th quarter. Saxon Interests Inc. now owns 1,425 shares of the conglomerate’s stock valued at $238,000 after buying an additional 57 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America upped their price target on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, UBS Group upped their price target on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Price Performance

Shares of General Electric stock opened at $194.08 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business has a 50 day simple moving average of $193.02 and a two-hundred day simple moving average of $183.20. The stock has a market capitalization of $208.31 billion, a P/E ratio of 32.40, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 12 month low of $130.38 and a 12 month high of $212.19.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.74%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

General Electric Company 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.