Retirement Systems of Alabama Sells 6,225 Shares of General Electric (NYSE:GE)

Retirement Systems of Alabama lowered its stake in General Electric (NYSE:GE) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 615,685 shares of the conglomerate’s stock after selling 6,225 shares during the quarter. Retirement Systems of Alabama’s holdings in General Electric were worth $78,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Halpern Financial Inc. increased its holdings in shares of 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 purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of General Electric in the fourth quarter valued at about $27,000. CGC Financial Services LLC grew its stake in shares of 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 grew its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in General Electric during the fourth quarter worth about $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.7 %

NYSE:GE traded up $1.09 on Friday, reaching $162.35. 5,898,021 shares of the stock traded hands, compared to its average volume of 9,321,559. The firm has a market capitalization of $177.71 billion, a price-to-earnings ratio of 53.23, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29. General Electric has a 1-year low of $77.28 and a 1-year high of $163.65. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $160.72 and its 200-day moving average is $136.27.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts anticipate that General Electric will post 3.93 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GE. The Goldman Sachs Group increased their price objective on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays reduced their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Wells Fargo & Company reduced their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Vertical Research began coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Jefferies Financial Group dropped their target price on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.00.

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.