State of New Jersey Common Pension Fund D Cuts Position in General Electric (NYSE:GE)

State of New Jersey Common Pension Fund D lessened its position in shares of General Electric (NYSE:GE) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,396 shares of the conglomerate’s stock after selling 4,089 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Electric were worth $66,782,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of General Electric by 91.8% in the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the period. International Assets Investment Management LLC boosted its holdings in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Janus Henderson Group PLC boosted its holdings in General Electric by 505.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate’s stock valued at $359,882,000 after acquiring an additional 1,593,413 shares during the period. Franklin Resources Inc. boosted its holdings in General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock valued at $278,247,000 after acquiring an additional 973,135 shares during the period. Finally, State Street Corp boosted its holdings in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Bank of America boosted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.73.

General Electric Trading Up 0.1 %

GE opened at $208.62 on Monday. The firm has a market cap of $223.91 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.56 and a beta of 1.22. 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 12 month low of $117.43 and a 12 month high of $211.42. The stock has a fifty day moving average price of $182.66 and a 200-day moving average price of $179.33.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts anticipate that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is presently 18.70%.

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.