New York State Common Retirement Fund Sells 100,835 Shares of General Electric (NYSE:GE)

New York State Common Retirement Fund lessened its holdings in shares of General Electric (NYSE:GE) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,498,969 shares of the conglomerate’s stock after selling 100,835 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of General Electric worth $282,676,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the 3rd quarter valued at $27,000. Studio Investment Management LLC increased its holdings in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of General Electric during the second quarter valued at about $31,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of General Electric in the first quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GE shares. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

NYSE:GE traded up $2.20 during mid-day trading on Friday, reaching $173.98. 342,364 shares of the company were exchanged, compared to its average volume of 6,311,766. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The stock has a market cap of $188.30 billion, a PE ratio of 30.18, a PEG ratio of 1.72 and a beta of 1.18. General Electric has a 12 month low of $85.89 and a 12 month high of $194.80. The company has a fifty day moving average of $180.18 and a 200 day moving average of $168.89.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, research analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

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.