Waverton Investment Management Ltd Decreases Stake in General Electric (NYSE:GE)

Waverton Investment Management Ltd lowered its holdings in General Electric (NYSE:GE) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,721 shares of the conglomerate’s stock after selling 938 shares during the quarter. General Electric accounts for about 3.4% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 13th biggest holding. Waverton Investment Management Ltd’s holdings in General Electric were worth $207,491,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GE. Studio Investment Management LLC grew its holdings in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of General Electric in the third quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the second quarter worth $31,000. Finally, Costello Asset Management INC grew its holdings in shares of General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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 transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is owned by company insiders.

General Electric Stock Performance

NYSE GE opened at $184.62 on Tuesday. The firm has a market cap of $199.81 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.19. 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 50-day moving average price of $180.78 and a 200-day moving average price of $170.03. General Electric has a twelve month low of $91.77 and a twelve month high of $194.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities research analysts predict that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GE. 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 report on Monday, October 14th. Bank of America lifted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.93.

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.