Wellington Management Group LLP Decreases Stock Holdings in General Electric (NYSE:GE)

Wellington Management Group LLP lessened its holdings in General Electric (NYSE:GE) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,047,695 shares of the conglomerate’s stock after selling 120,850 shares during the period. Wellington Management Group LLP owned about 0.28% of General Electric worth $574,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GE. Newport Trust Company LLC acquired a new stake in General Electric during the 2nd quarter valued at $2,613,332,000. Jennison Associates LLC boosted its position in General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in General Electric in the 2nd quarter valued at about $580,200,000. International Assets Investment Management LLC grew its stake in shares of General Electric by 21,069.8% during the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in shares of General Electric by 18,693.9% during the second quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after acquiring an additional 1,605,434 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. UBS Group upped their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.93.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Trading Up 1.6 %

Shares of NYSE GE opened at $175.60 on Friday. General Electric has a 12-month low of $94.54 and a 12-month high of $194.80. The company has a market cap of $190.05 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $182.30 and its 200 day simple moving average is $172.16.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Equities research analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

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.