General Electric (NYSE:GE) Holdings Raised by Quintet Private Bank Europe S.A.

by · The Markets Daily

Quintet Private Bank Europe S.A. boosted its stake in General Electric (NYSE:GE – Free Report) by 13.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,355 shares of the conglomerate’s stock after buying an additional 618 shares during the period. Quintet Private Bank Europe S.A.’s holdings in General Electric were worth $1,010,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Newport Trust Company LLC bought a new position in General Electric during the second quarter valued at about $2,613,332,000. Capital World Investors boosted its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Capital International Investors boosted its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in the 1st 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. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of General Electric in the 2nd quarter worth approximately $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

GE stock traded up $1.50 during midday trading on Monday, reaching $173.20. 729,693 shares of the company’s stock traded hands, compared to its average volume of 6,302,660. The company has a 50-day simple moving average of $180.20 and a two-hundred day simple moving average of $169.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 1-year low of $86.83 and a 1-year high of $194.80. The company has a market cap of $187.45 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

View Our Latest Research Report on General Electric

General Electric Company Profile

(Free Report)

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.

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