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

Wellington Management Group LLP raised its holdings in shares of General Electric (NYSE:GE) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 133,618 shares of the conglomerate’s stock after purchasing an additional 2,055 shares during the period. Wellington Management Group LLP’s holdings in General Electric were worth $17,054,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GE. Dark Forest Capital Management LP boosted its position in General Electric by 32.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 5,015 shares of the conglomerate’s stock valued at $554,000 after acquiring an additional 1,232 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of General Electric by 31.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,919 shares of the conglomerate’s stock worth $323,000 after purchasing an additional 690 shares during the last quarter. Mather Group LLC. boosted its position in General Electric by 11.0% during the third quarter. Mather Group LLC. now owns 8,307 shares of the conglomerate’s stock valued at $918,000 after purchasing an additional 824 shares in the last quarter. Synovus Financial Corp grew its stake in General Electric by 12.1% in the third quarter. Synovus Financial Corp now owns 29,835 shares of the conglomerate’s stock valued at $3,298,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Roundview Capital LLC raised its holdings in General Electric by 9.8% in the third quarter. Roundview Capital LLC now owns 2,558 shares of the conglomerate’s stock worth $283,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

GE has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Vertical Research assumed coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Citigroup upped their target price on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Bank of America raised their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

General Electric Trading Down 0.5 %

NYSE GE opened at $159.73 on Wednesday. The company has a fifty day moving average of $161.89 and a 200 day moving average of $150.77. The company has a market capitalization of $174.84 billion, a PE ratio of 52.37, a P/E/G ratio of 1.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 1 year low of $82.69 and a 1 year high of $170.80.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Research analysts forecast that General Electric will post 3.99 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. 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.