General Electric (GE) Position Lowered by Swiss National Bank

Swiss National Bank lessened its holdings in shares of General Electric (NYSE:GE) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,725,561 shares of the conglomerate’s stock after selling 980,600 shares during the quarter. Swiss National Bank owned approximately 0.32% of General Electric worth $313,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norinchukin Bank The raised its holdings in shares of General Electric by 9.3% during the third quarter. Norinchukin Bank The now owns 1,563,228 shares of the conglomerate’s stock valued at $17,649,000 after acquiring an additional 133,187 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in General Electric by 95.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 103,307 shares of the conglomerate’s stock worth $1,166,000 after purchasing an additional 50,370 shares in the last quarter. Tobam raised its holdings in General Electric by 23.4% in the third quarter. Tobam now owns 582,916 shares of the conglomerate’s stock worth $6,581,000 after purchasing an additional 110,691 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in General Electric by 11.8% in the third quarter. Commonwealth Bank of Australia now owns 1,556,568 shares of the conglomerate’s stock worth $17,566,000 after purchasing an additional 164,900 shares in the last quarter. Finally, Doyle Wealth Management raised its holdings in General Electric by 41.3% in the third quarter. Doyle Wealth Management now owns 272,199 shares of the conglomerate’s stock worth $3,073,000 after purchasing an additional 79,513 shares in the last quarter. Institutional investors own 54.49% of the company’s stock.

In related news, SVP Alexander Dimitrief bought 10,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average cost of $9.48 per share, with a total value of $94,800.00. Following the completion of the purchase, the senior vice president now owns 103,075 shares in the company, valued at approximately $977,151. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza bought 60,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was bought at an average cost of $8.32 per share, for a total transaction of $499,200.00. Following the completion of the purchase, the director now owns 151,500 shares of the company’s stock, valued at approximately $1,260,480. The disclosure for this purchase can be found here. Over the last three months, insiders bought 295,000 shares of company stock worth $2,783,250. Insiders own 1.12% of the company’s stock.

A number of equities analysts have issued reports on the company. William Blair reiterated a “buy” rating on shares of General Electric in a report on Monday. Credit Suisse Group set a $10.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Thursday, January 3rd. ValuEngine upgraded General Electric from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. Finally, Barclays decreased their price objective on General Electric from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, December 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.32.

NYSE GE opened at $8.98 on Thursday. General Electric has a 12 month low of $6.66 and a 12 month high of $17.70. The firm has a market capitalization of $75.80 billion, a PE ratio of 8.55, a P/E/G ratio of 2.24 and a beta of 0.67. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. During the same period in the prior year, the company posted $0.29 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 0.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Thursday, December 20th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.45%. General Electric’s dividend payout ratio is currently 3.81%.

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About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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