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

Swiss National Bank raised its holdings in General Electric (NYSE:GE - Free Report) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Capital International Investors grew its stake in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate's stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate's stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Legal & General Group Plc raised its position in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock valued at $1,336,257,000 after acquiring an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate's stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GE has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Finally, Melius Research raised their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.93.

General Electric Price Performance

Shares of GE traded down $1.47 during trading hours on Friday, hitting $176.93. 5,302,109 shares of the company were exchanged, compared to its average volume of 5,219,509. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $191.49 billion, a PE ratio of 31.09, a PEG ratio of 1.75 and a beta of 1.19. The firm has a fifty day simple moving average of $182.29 and a 200-day simple moving average of $170.71. General Electric has a one year low of $93.05 and a one year high of $194.80.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.22 earnings per share for the current 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 given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric's payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 sale, the senior vice president now owns 13,289 shares of the company's stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

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.