Wellington Management Group LLP Cuts Position in General Electric (NYSE:GE)

Wellington Management Group LLP cut its holdings in General Electric (NYSE:GE) by 18.0% in the 4th quarter, according to the company in its most recent Form 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 period. Wellington Management Group LLP owned about 0.23% of General Electric worth $416,841,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GE. Partners in Financial Planning purchased a new position in General Electric in the fourth quarter valued at about $564,000. O Shaughnessy Asset Management LLC lifted its stake in General Electric by 0.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 158,604 shares of the conglomerate’s stock valued at $26,454,000 after purchasing an additional 1,152 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in General Electric in the fourth quarter valued at approximately $144,000. RWA Wealth Partners LLC grew its holdings in General Electric by 1.4% during the fourth quarter. RWA Wealth Partners LLC now owns 23,263 shares of the conglomerate’s stock valued at $3,880,000 after purchasing an additional 315 shares during the period. Finally, Schroder Investment Management Group increased its position in General Electric by 50.0% in the fourth quarter. Schroder Investment Management Group now owns 1,134,597 shares of the conglomerate’s stock worth $190,726,000 after buying an additional 378,371 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Bank of America increased their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

General Electric Price Performance

Shares of NYSE GE opened at $200.29 on Tuesday. The stock’s 50-day simple moving average is $201.87 and its two-hundred day simple moving average is $186.85. General Electric has a twelve month low of $133.99 and a twelve month high of $214.21. The firm has a market capitalization of $214.97 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s payout ratio is currently 24.04%.

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.