Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in General Electric (NYSE:GE)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of General Electric (NYSE:GE) by 47.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 646,452 shares of the conglomerate’s stock after buying an additional 207,672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of General Electric worth $107,822,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GE. Blue Barn Wealth LLC lifted its stake 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 purchasing an additional 54 shares during the last quarter. Game Plan Financial Advisors LLC lifted its stake 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 purchasing an additional 55 shares during the last quarter. Red Door Wealth Management LLC lifted its stake 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 purchasing an additional 56 shares during the last quarter. WR Wealth Planners LLC lifted its stake 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 purchasing an additional 56 shares during the last quarter. Finally, Saxon Interests Inc. lifted its stake 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 purchasing an additional 57 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research note on Wednesday, January 22nd. Bank of America raised their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price target on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Citigroup increased their price target on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Trading Down 1.0 %

Shares of NYSE GE opened at $194.08 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $193.02 and a two-hundred day simple moving average of $183.20. The firm has a market cap of $208.31 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a twelve month low of $130.38 and a twelve month high of $212.19.

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

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend 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 payout ratio is presently 24.04%.

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.