UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in General Electric (NYSE:GE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of General Electric (NYSE:GE) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,556,515 shares of the conglomerate’s stock after buying an additional 413,388 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of General Electric worth $1,236,428,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GE. Public Sector Pension Investment Board increased its position in General Electric by 719.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 345,886 shares of the conglomerate’s stock worth $65,227,000 after purchasing an additional 303,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of General Electric by 4.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 438,780 shares of the conglomerate’s stock worth $82,745,000 after purchasing an additional 19,885 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the third quarter worth about $30,000. CreativeOne Wealth LLC raised its position in shares of General Electric by 15.4% in the third quarter. CreativeOne Wealth LLC now owns 22,994 shares of the conglomerate’s stock valued at $4,336,000 after buying an additional 3,065 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of General Electric by 300.0% during 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 buying an additional 120,000 shares during the period. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America upped their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

General Electric stock opened at $180.61 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $195.47 billion, a P/E ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19. The firm has a fifty day moving average of $183.23 and a 200-day moving average of $171.44. General Electric has a 52-week low of $94.54 and a 52-week high of $194.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. As a group, analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

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

Insider Activity

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

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.