Pictet North America Advisors SA Boosts Holdings in General Electric (NYSE:GE)

Pictet North America Advisors SA increased its holdings in General Electric (NYSE:GE) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,674 shares of the conglomerate’s stock after buying an additional 5,126 shares during the quarter. Pictet North America Advisors SA’s holdings in General Electric were worth $6,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GE. Tsfg LLC raised its stake in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 55 shares during the period. Macroview Investment Management LLC raised its stake in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 58 shares during the period. Strategic Advisors LLC raised its stake in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares during the period. Allegheny Financial Group LTD raised its stake in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares during the period. Finally, New England Research & Management Inc. raised its stake in General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GE. Royal Bank of Canada lifted their price objective on shares of General Electric from $190.00 to $210.00 in a research report on Tuesday. Jefferies Financial Group lifted their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Citigroup lifted 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. Sanford C. Bernstein lifted their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, UBS Group lifted their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

General Electric Stock Down 9.1 %

NYSE GE opened at $176.59 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average of $179.24 and a two-hundred day moving average of $168.05. The firm has a market capitalization of $193.30 billion, a price-to-earnings ratio of 57.90, a PEG ratio of 1.86 and a beta of 1.18. General Electric has a 52 week low of $84.58 and a 52 week high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

General Electric Company 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.