General Electric (NYSE:GE) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of General Electric (NYSE:GE) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,790 shares of the conglomerate’s stock after selling 2,313 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Electric were worth $13,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Vanguard Group Inc. grew its holdings in shares of General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. Capital International Investors raised its stake in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new position in shares of General Electric in the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors increased its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after purchasing an additional 459,201 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays boosted 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. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two 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 a consensus target price of $191.36.

General Electric Trading Down 1.2 %

NYSE:GE opened at $186.30 on Wednesday. General Electric has a 52-week low of $84.42 and a 52-week high of $190.88. 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 stock has a fifty day simple moving average of $172.31 and a 200-day simple moving average of $169.45. The company has a market capitalization of $203.93 billion, a PE ratio of 61.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th 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 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is currently 36.72%.

General Electric 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.