World Investment Advisors LLC Purchases 5,162 Shares of General Electric (NYSE:GE)

World Investment Advisors LLC raised its holdings in shares of General Electric (NYSE:GE) by 60.7% during the third quarter, Holdings Channel.com reports. The fund owned 13,662 shares of the conglomerate’s stock after buying an additional 5,162 shares during the period. World Investment Advisors LLC’s holdings in General Electric were worth $2,576,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GE. State Street Corp lifted its holdings in General Electric by 2.1% in 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. Geode Capital Management LLC raised its position in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Newport Trust Company LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $2,613,332,000. Legal & General Group Plc lifted its holdings in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GE. Royal Bank of Canada reduced their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.93.

General Electric Stock Up 0.7 %

Shares of GE opened at $165.98 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $180.30 and a 200 day moving average of $172.42. The company has a market cap of $179.64 billion, a PE ratio of 29.17, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a 52-week low of $95.92 and a 52-week high of $194.80.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.82 EPS. On average, sell-side analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. General Electric’s dividend payout ratio is 19.68%.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $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. Company insiders own 0.66% of the company’s stock.

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.