Wellington Management Group LLP cut its stake in shares of General Electric (NYSE:GE - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,499,199 shares of the conglomerate's stock after selling 548,496 shares during the quarter. Wellington Management Group LLP owned 0.23% of General Electric worth $416,841,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric in the fourth quarter worth approximately $733,000. Chung Wu Investment Group LLC purchased a new position in General Electric during the 4th quarter worth approximately $795,000. State Street Corp grew its position in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in General Electric by 269.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after purchasing an additional 20,575 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
General Electric Stock Down 7.4 %
Shares of NYSE GE traded down $13.81 during mid-day trading on Friday, reaching $173.82. 5,010,704 shares of the company traded hands, compared to its average volume of 5,412,412. The company's fifty day moving average is $202.16 and its two-hundred day moving average is $187.13. General Electric has a fifty-two week low of $146.21 and a fifty-two week high of $214.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market cap of $186.56 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.
General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, analysts expect that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.83%. General Electric's payout ratio is currently 24.04%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on GE. Redburn Atlantic initiated coverage on General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price target on the stock. Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Bank of America boosted their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Wells Fargo & Company increased their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.
Get Our Latest Stock Analysis on GE
About General Electric
(
Free Report)
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.
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