WCM Investment Management LLC Cuts Stock Holdings in General Electric (NYSE:GE)

WCM Investment Management LLC lowered its holdings in General Electric (NYSE:GE - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,542,899 shares of the conglomerate's stock after selling 126,553 shares during the quarter. General Electric comprises approximately 2.3% of WCM Investment Management LLC's investment portfolio, making the stock its 19th largest holding. WCM Investment Management LLC owned about 0.51% of General Electric worth $1,027,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the 3rd quarter worth $27,000. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Costello Asset Management INC grew its stake in shares of General Electric by 92.0% in the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate's stock worth $31,000 after acquiring an additional 80 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at about $31,000. Institutional investors own 74.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GE. 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 research report on Wednesday, October 23rd. Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a 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. According to MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average price target of $200.93.

General Electric Stock Performance

Shares of NYSE:GE traded down $0.19 during midday trading on Monday, reaching $184.62. 3,370,861 shares of the company traded hands, compared to its average volume of 6,278,038. The firm's fifty day moving average price is $180.78 and its two-hundred day moving average price is $170.03. The firm has a market capitalization of $199.81 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12 month low of $91.77 and a 12 month high of $194.80.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric's dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the business'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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

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.