General Electric (NYSE:GE) Stock Position Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in General Electric (NYSE:GE) by 7.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 554,037 shares of the conglomerate’s stock after selling 42,038 shares during the quarter. Retirement Systems of Alabama owned approximately 0.05% of General Electric worth $104,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lantz Financial LLC raised its holdings in shares of General Electric by 1.9% during the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate’s stock valued at $591,000 after acquiring an additional 70 shares during the period. Silver Lake Advisory LLC bought a new stake in General Electric during the second quarter worth approximately $331,000. Valley National Advisers Inc. raised its position in shares of General Electric by 6.7% in the second quarter. Valley National Advisers Inc. now owns 2,003 shares of the conglomerate’s stock valued at $318,000 after purchasing an additional 126 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of General Electric by 2.6% in the second quarter. Assenagon Asset Management S.A. now owns 30,462 shares of the conglomerate’s stock worth $4,843,000 after buying an additional 762 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of General Electric during the 2nd quarter worth $45,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Citigroup increased their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Melius Research lifted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.93.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

General Electric Stock Performance

GE stock opened at $167.09 on Friday. General Electric has a 1-year low of $95.92 and a 1-year high of $194.80. The business’s 50-day moving average price is $180.72 and its two-hundred day moving average price is $172.42. The firm has a market cap of $180.84 billion, a PE ratio of 28.96, a P/E/G ratio of 1.66 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the firm earned $0.82 EPS. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 4.24 earnings per share for the current year.

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.