General Electric (NYSE:GE) Shares Sold by Waverton Investment Management Ltd

Waverton Investment Management Ltd lessened its stake in General Electric (NYSE:GE) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,036,530 shares of the conglomerate’s stock after selling 64,191 shares during the period. General Electric comprises approximately 2.8% of Waverton Investment Management Ltd’s portfolio, making the stock its 18th largest position. Waverton Investment Management Ltd owned 0.10% of General Electric worth $172,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GE. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth approximately $25,000. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the fourth quarter worth $27,000. Peterson Financial Group Inc. acquired a new position in General Electric during the 3rd quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new stake in General Electric during the 4th quarter worth about $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter worth about $30,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of GE stock opened at $199.90 on Monday. General Electric has a 52-week low of $119.88 and a 52-week high of $212.19. The stock’s 50-day moving average price is $186.57 and its 200 day moving average price is $180.98. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last released its quarterly earnings results 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 research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 18.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GE shares. Wells Fargo & Company raised their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Redburn Atlantic assumed coverage on General Electric in a report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective on the stock. Bank of America boosted their target price on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group raised their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.31.

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.