General Electric (NYSE:GE) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,445,987 shares of the conglomerate’s stock after selling 96,912 shares during the quarter. General Electric makes up 2.2% of WCM Investment Management LLC’s portfolio, making the stock its 17th biggest position. WCM Investment Management LLC’s holdings in General Electric were worth $915,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its position in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC acquired a new position in General Electric in the fourth quarter worth $733,000. State Street Corp increased its stake in General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the period. Finally, World Investment Advisors LLC lifted its position in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

GE has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Down 0.4 %

General Electric stock opened at $205.32 on Friday. General Electric has a twelve month low of $110.57 and a twelve month high of $207.84. 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 firm has a market cap of $220.37 billion, a PE ratio of 34.28, a P/E/G ratio of 2.56 and a beta of 1.22. The firm’s 50 day moving average price is $179.68 and its two-hundred day moving average price is $177.85.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio is presently 18.70%.

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.