Zions Bancorporation N.A. Purchases 553 Shares of General Electric (NYSE:GE)

Zions Bancorporation N.A. raised its holdings in shares of General Electric (NYSE:GE) by 23.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,891 shares of the conglomerate’s stock after purchasing an additional 553 shares during the quarter. Zions Bancorporation N.A.’s holdings in General Electric were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC purchased a new stake in shares of General Electric in the second quarter worth about $2,613,332,000. Capital World Investors boosted its position in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Legal & General Group Plc boosted its position in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after acquiring an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of NYSE GE opened at $176.89 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 12-month low of $93.05 and a 12-month high of $194.80. The firm has a market capitalization of $191.45 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The firm has a 50 day moving average of $181.98 and a 200 day moving average of $170.48.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a dividend of $0.28 per share. 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%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. Sanford C. Bernstein increased their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group raised their price target on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.93.

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.