Public Employees Retirement Association of Colorado Reduces Stock Holdings in General Electric (NYSE:GE)

Public Employees Retirement Association of Colorado decreased its stake in shares of General Electric (NYSE:GE) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,879 shares of the conglomerate’s stock after selling 7,298 shares during the period. Public Employees Retirement Association of Colorado’s holdings in General Electric were worth $27,361,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GE. Vanguard Group Inc. raised its position in General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the period. Capital International Investors raised its holdings in shares of 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 buying an additional 5,309,543 shares during the period. Capital World Investors lifted its position in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new position in General Electric in the 4th quarter worth approximately $1,193,159,000. Finally, Canada Pension Plan Investment Board grew its position in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

General Electric Stock Up 0.5 %

NYSE GE traded up $0.80 on Monday, reaching $170.61. The stock had a trading volume of 3,144,878 shares, compared to its average volume of 7,137,058. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The business has a 50 day moving average price of $162.35 and a 200 day moving average price of $156.68. The company has a market capitalization of $184.99 billion, a price-to-earnings ratio of 55.62, a P/E/G ratio of 1.71 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. On average, analysts forecast that General Electric will post 4.13 EPS for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent research reports. UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Argus upped their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. StockNews.com initiated coverage on General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. Finally, Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.93.

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.