Zurcher Kantonalbank Zurich Cantonalbank Has $82.75 Million Stock Holdings in General Electric (NYSE:GE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in General Electric (NYSE:GE) by 4.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 438,780 shares of the conglomerate’s stock after buying an additional 19,885 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Electric were worth $82,745,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in General Electric during the 3rd quarter worth $30,000. CreativeOne Wealth LLC grew its stake in shares of General Electric by 15.4% during the third quarter. CreativeOne Wealth LLC now owns 22,994 shares of the conglomerate’s stock worth $4,336,000 after purchasing an additional 3,065 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in General Electric by 300.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 160,001 shares of the conglomerate’s stock valued at $30,173,000 after purchasing an additional 120,000 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in General Electric by 1.1% during the third quarter. Glenmede Trust Co. NA now owns 93,751 shares of the conglomerate’s stock worth $17,680,000 after buying an additional 1,016 shares during the last quarter. Finally, Cynosure Group LLC boosted its holdings in General Electric by 14.5% during the third quarter. Cynosure Group LLC now owns 71,370 shares of the conglomerate’s stock worth $13,459,000 after buying an additional 9,041 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $180.61 on Thursday. The stock has a market capitalization of $195.47 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The firm has a fifty day simple moving average of $183.23 and a 200 day simple moving average of $171.44. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Research analysts forecast that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target 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. UBS Group increased their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. 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. Wells Fargo & Company upped their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’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 value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.