Swiss National Bank Buys 12,200 Shares of General Electric (NYSE:GE)

Swiss National Bank boosted its stake in shares of General Electric (NYSE:GE) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & 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 owned about 0.30% of General Electric worth $612,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalytic Wealth RIA LLC bought a new position in General Electric in the first quarter worth approximately $460,000. Davis R M Inc. raised its position in General Electric by 18.8% in the first quarter. Davis R M Inc. now owns 3,696 shares of the conglomerate’s stock worth $649,000 after acquiring an additional 586 shares during the period. Trustmark National Bank Trust Department raised its position in General Electric by 10.7% in the first quarter. Trustmark National Bank Trust Department now owns 3,437 shares of the conglomerate’s stock worth $603,000 after acquiring an additional 332 shares during the period. Bahl & Gaynor Inc. raised its position in General Electric by 4.6% in the first quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock worth $998,000 after acquiring an additional 251 shares during the period. Finally, Rockport Wealth LLC bought a new position in General Electric in the first quarter worth approximately $802,000. Institutional investors own 74.77% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 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 accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

GE opened at $176.93 on Friday. The stock has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. The company has a fifty day moving average of $182.29 and a 200 day moving average of $170.63. General Electric has a fifty-two week low of $93.05 and a fifty-two week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company posted $0.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

GE has been the topic of several recent research reports. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

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.