General Electric (NYSE:GE) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in General Electric (NYSE:GE) by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 572,218 shares of the conglomerate’s stock after purchasing an additional 177,242 shares during the quarter. Teacher Retirement System of Texas’ holdings in General Electric were worth $95,440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in 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 acquiring an additional 898,296 shares during the period. Geode Capital Management LLC raised its stake in General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after acquiring an additional 156,272 shares during the period. Jennison Associates LLC raised its stake in General Electric by 1.4% during the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock worth $1,314,080,000 after acquiring an additional 106,891 shares during the period. Bank of New York Mellon Corp raised its stake in General Electric by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after acquiring an additional 115,257 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in General Electric by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,732,817 shares of the conglomerate’s stock worth $1,122,966,000 after acquiring an additional 202,233 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 2.4 %

Shares of NYSE:GE opened at $205.67 on Thursday. The stock has a market capitalization of $220.75 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.59 and a beta of 1.19. General Electric has a 1-year low of $133.99 and a 1-year high of $212.19. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a 50 day moving average price of $197.36 and a 200 day moving average price of $184.53.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, research analysts anticipate that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced 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 0.70%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is 24.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GE shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Citigroup upped their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Company 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.