General Electric (NYSE:GE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of General Electric (NYSE:GE - Free Report) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,525,178 shares of the conglomerate's stock after selling 272,077 shares during the quarter. New York State Common Retirement Fund owned 0.14% of General Electric worth $194,658,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GE. WCM Investment Management LLC acquired a new position in shares of General Electric during the 4th quarter worth about $520,488,000. Brown Advisory Inc. lifted its position in shares of General Electric by 265.7% in the third quarter. Brown Advisory Inc. now owns 3,008,425 shares of the conglomerate's stock valued at $332,581,000 after acquiring an additional 2,185,793 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of General Electric by 11,947.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate's stock worth $201,218,000 after acquiring an additional 1,563,484 shares during the last quarter. Carmignac Gestion purchased a new stake in shares of General Electric during the third quarter worth approximately $133,581,000. Finally, AQR Capital Management LLC raised its stake in General Electric by 358.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,456,673 shares of the conglomerate's stock valued at $161,035,000 after purchasing an additional 1,138,896 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GE shares. Jefferies Financial Group reduced their target price on shares of General Electric from $195.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, April 10th. Bank of America lowered their target price on General Electric from $175.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 8th. JPMorgan Chase & Co. dropped their price target on General Electric from $180.00 to $148.00 and set an "overweight" rating for the company in a research report on Tuesday, April 2nd. TheStreet upgraded General Electric from a "c+" rating to a "b+" rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company dropped their target price on General Electric from $200.00 to $165.00 and set an "overweight" rating for the company in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of "Moderate Buy" and an average price target of $160.07.

General Electric Stock Up 1.4 %

GE traded up $2.13 during trading hours on Monday, hitting $150.19. 7,024,708 shares of the company's stock were exchanged, compared to its average volume of 7,992,814. The firm has a market cap of $164.20 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. General Electric has a 12-month low of $76.87 and a 12-month high of $158.68. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $159.52 and a 200 day moving average of $135.03.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The company's revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Analysts predict that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from General Electric's previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric's dividend payout ratio is presently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.

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