General Electric (NYSE:GE) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of General Electric (NYSE:GE) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,053,271 shares of the conglomerate’s stock after selling 44,984 shares during the quarter. California Public Employees Retirement System owned 0.19% of General Electric worth $262,059,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Halpern Financial Inc. grew its position in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $27,000. CGC Financial Services LLC grew its position in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its stake in shares of General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock valued at $35,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GE. The Goldman Sachs Group began coverage on General Electric in a research note on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Finally, Barclays reduced their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $160.07.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Up 5.7 %

GE traded up $8.62 during trading on Tuesday, reaching $158.81. The company had a trading volume of 5,840,077 shares, compared to its average volume of 7,956,995. The firm’s 50-day simple moving average is $159.52 and its 200 day simple moving average is $135.03. The company has a market cap of $173.62 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.92 and a beta of 1.29. General Electric has a 12-month low of $76.87 and a 12-month high of $160.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts anticipate that General Electric will post 3.76 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is currently 13.38%.

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.