General Electric (NYSE:GE) is Worldquant Millennium Advisors LLC’s 8th Largest Position

Worldquant Millennium Advisors LLC cut its holdings in General Electric (NYSE:GE) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 974,919 shares of the conglomerate’s stock after selling 5,905 shares during the quarter. General Electric comprises 1.3% of Worldquant Millennium Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Worldquant Millennium Advisors LLC’s holdings in General Electric were worth $183,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Studio Investment Management LLC increased its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter worth $27,000. Finally, Peterson Financial Group Inc. purchased a new stake in General Electric during the third quarter worth $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GE shares. Bank of America raised their price target on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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. Wells Fargo & Company increased their price target on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their price objective on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

General Electric Trading Down 5.3 %

NYSE GE opened at $173.01 on Friday. The company has a market cap of $187.25 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.78 and a beta of 1.17. General Electric has a 12 month low of $94.54 and a 12 month high of $194.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a 50-day moving average of $182.30 and a 200-day moving average of $172.16.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 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%. General Electric’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio is presently 19.68%.

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.