Wellington Management Group LLP Increases Holdings in General Electric (NYSE:GE)

Wellington Management Group LLP increased its stake in shares of General Electric (NYSE:GEFree Report) by 20.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,563 shares of the conglomerate’s stock after buying an additional 22,265 shares during the quarter. Wellington Management Group LLP’s holdings in General Electric were worth $14,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in General Electric by 4.4% during the second quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate’s stock worth $7,742,325,000 after buying an additional 2,974,946 shares in the last quarter. State Street Corp grew its stake in shares of General Electric by 3.5% in the second quarter. State Street Corp now owns 50,207,805 shares of the conglomerate’s stock valued at $5,515,327,000 after buying an additional 1,717,793 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Northern Trust Corp grew its stake in shares of General Electric by 4.0% in the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after buying an additional 410,061 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of General Electric by 5.1% in the third quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after buying an additional 434,736 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

General Electric Stock Down 0.8 %

Shares of NYSE GE opened at $175.15 on Friday. General Electric has a 1 year low of $90.32 and a 1 year high of $177.50. The firm has a market cap of $191.49 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock’s 50-day simple moving average is $148.73 and its 200-day simple moving average is $127.93.

General Electric (NYSE:GEGet Free Report) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GE shares. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Barclays lifted their target price on General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Citigroup lifted their target price on General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a report on Monday, December 11th. Royal Bank of Canada lifted their target price on General Electric from $148.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group lifted their target price on General Electric from $180.00 to $195.00 in a report on Monday, March 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.54.

Read Our Latest Research Report on GE

About General Electric

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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