General Electric (NYSE:GE) Stock Holdings Lowered by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its position in shares of General Electric (NYSE:GE) by 5.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 719,114 shares of the conglomerate’s stock after selling 44,904 shares during the period. General Electric accounts for 1.1% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 15th biggest holding. Zurich Insurance Group Ltd FI’s holdings in General Electric were worth $135,611,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp bought a new position in shares of General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the third quarter worth about $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter worth about $28,000. Finally, Studio Investment Management LLC lifted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s 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 transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective 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. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised 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. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Up 1.6 %

NYSE GE opened at $175.60 on Friday. 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 has a 1-year low of $94.54 and a 1-year high of $194.80. The firm’s fifty day simple moving average is $182.30 and its 200-day simple moving average is $172.16. The company has a market capitalization of $190.05 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17.

General Electric (NYSE:GE) last posted its 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 company had revenue of $9.84 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

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.