General Electric (NYSE:GE) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its holdings in shares of General Electric (NYSE:GE) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new stake in General Electric in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter valued at $27,000. Hager Investment Management Services LLC acquired a new stake in General Electric in the fourth quarter valued at $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $208.62 on Friday. The business’s 50-day moving average price is $182.00 and its 200 day moving average price is $178.98. General Electric has a twelve month low of $117.43 and a twelve month high of $211.42. The company has a market capitalization of $223.91 billion, a PE ratio of 34.83, a price-to-earnings-growth 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 (NYSE:GE) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. On average, research analysts predict 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. Stockholders of record on Monday, March 10th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 18.70%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated 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 directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GE shares. Melius Research upped their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. UBS Group upped their price objective on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Citigroup upped their price objective on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.