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

State of New Jersey Common Pension Fund D lifted its holdings in General Electric (NYSE:GE) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 404,485 shares of the conglomerate’s stock after buying an additional 1,634 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Electric were worth $76,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the third quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in General Electric during the second quarter valued at approximately $31,000. Finally, Costello Asset Management INC raised its stake in General Electric by 92.0% in the third quarter. Costello Asset Management INC now owns 167 shares of the conglomerate’s stock worth $31,000 after buying an additional 80 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

GE has been the subject of several recent analyst reports. Barclays raised their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein raised their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

Shares of GE traded up $5.96 during mid-day trading on Friday, hitting $184.81. 4,676,543 shares of the company were exchanged, compared to its average volume of 4,843,334. The stock has a market cap of $200.02 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. General Electric has a 1-year low of $90.34 and a 1-year high of $194.80. The company has a 50 day moving average of $180.78 and a 200-day moving average of $169.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

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.