General Electric (NYSE:GE) Holdings Cut by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its stake in shares of General Electric (NYSE:GE) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,290 shares of the conglomerate’s stock after selling 3,589 shares during the period. Public Employees Retirement Association of Colorado’s holdings in General Electric were worth $24,210,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 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 worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the 2nd quarter worth $31,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter valued at $34,000. Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at $32,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in General Electric during the first quarter worth $37,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Stock Up 0.7 %

GE stock opened at $187.39 on Friday. General Electric has a twelve month low of $84.42 and a twelve month high of $187.99. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $205.12 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business’s 50-day simple moving average is $168.69 and its 200 day simple moving average is $170.96.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. On average, research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group raised their target price on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research report on Friday. Two investment 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, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.

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.