New Mexico Educational Retirement Board Trims Position in General Electric (NYSE:GE)

New Mexico Educational Retirement Board lessened its stake in shares of General Electric (NYSE:GE) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,677 shares of the conglomerate’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in General Electric were worth $8,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC increased its position in shares of General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the last quarter. Johnson & White Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter worth about $733,000. State Street Corp grew its position in shares of General Electric by 2.1% during the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after buying an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its position in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after buying an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its position in shares of General Electric by 60.7% during the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after buying an additional 5,162 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $208.73.

General Electric Price Performance

Shares of NYSE GE opened at $208.62 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42. The stock has a 50 day moving average of $182.00 and a two-hundred day moving average of $178.98. The stock has a market cap of $223.91 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, research analysts forecast that General Electric will post 5.39 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 18.70%.

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.