Waverton Investment Management Ltd Cuts Stock Position in General Electric (NYSE:GE)

Waverton Investment Management Ltd lowered its holdings in General Electric (NYSE:GE) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,100,721 shares of the conglomerate’s stock after selling 938 shares during the period. General Electric comprises 3.4% of Waverton Investment Management Ltd’s holdings, making the stock its 13th largest position. Waverton Investment Management Ltd owned approximately 0.10% of General Electric worth $207,491,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GE. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the 3rd quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $31,000. Finally, Costello Asset Management INC raised its stake in shares of General Electric by 92.0% during the 3rd quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GE. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the 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 of the company’s stock, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 0.1 %

Shares of GE stock opened at $184.62 on Tuesday. The stock has a market capitalization of $199.81 billion, a PE ratio of 32.45, a P/E/G ratio of 1.82 and a beta of 1.19. General Electric has a 1-year low of $91.77 and a 1-year high of $194.80. The business has a 50-day moving average of $180.78 and a 200 day moving average of $170.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 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.