Banque Cantonale Vaudoise Boosts Stock Holdings in General Electric (NYSE:GE)

Banque Cantonale Vaudoise grew its position in General Electric (NYSE:GE) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,997 shares of the conglomerate’s stock after acquiring an additional 4,470 shares during the quarter. Banque Cantonale Vaudoise’s holdings in General Electric were worth $11,126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GE. Bahl & Gaynor Inc. raised its holdings in General Electric by 4.6% in the 1st quarter. Bahl & Gaynor Inc. now owns 5,686 shares of the conglomerate’s stock valued at $998,000 after acquiring an additional 251 shares during the last quarter. Bessemer Group Inc. lifted its position in General Electric by 69.2% during the first quarter. Bessemer Group Inc. now owns 55,468 shares of the conglomerate’s stock worth $9,737,000 after buying an additional 22,689 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in General Electric by 72.1% during the first quarter. Lake Street Advisors Group LLC now owns 6,300 shares of the conglomerate’s stock worth $1,106,000 after buying an additional 2,640 shares during the last quarter. Pitcairn Co. grew its holdings in General Electric by 102.7% in the 1st quarter. Pitcairn Co. now owns 10,940 shares of the conglomerate’s stock valued at $1,920,000 after buying an additional 5,544 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its stake in shares of General Electric by 59.0% in the 1st quarter. Evermay Wealth Management LLC now owns 2,002 shares of the conglomerate’s stock worth $351,000 after acquiring an additional 743 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

General Electric Stock Performance

Shares of GE stock opened at $177.58 on Tuesday. The firm has a fifty day moving average price of $182.54 and a 200 day moving average price of $170.81. The company has a market cap of $192.19 billion, a P/E ratio of 31.21, a PEG ratio of 1.75 and a beta of 1.19. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. 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 (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

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.