Public Employees Retirement Association of Colorado Sells 7,298 Shares of General Electric (NYSE:GE)

Public Employees Retirement Association of Colorado decreased its position in General Electric (NYSE:GE) by 4.5% in the first quarter, Holdings Channel reports. The firm owned 155,879 shares of the conglomerate’s stock after selling 7,298 shares during the period. Public Employees Retirement Association of Colorado’s holdings in General Electric were worth $27,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Halpern Financial Inc. lifted its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the 4th quarter worth approximately $27,000. Capital Analysts LLC raised 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 worth $31,000 after acquiring an additional 87 shares in the last quarter. Bfsg LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in General Electric in the fourth quarter valued at approximately $32,000. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.5 %

GE stock traded up $0.80 during trading on Monday, reaching $170.61. 3,144,878 shares of the stock were exchanged, compared to its average volume of 7,137,058. The business has a 50 day moving average price of $162.35 and a 200-day moving average price of $156.68. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $184.99 billion, a price-to-earnings ratio of 55.62, a P/E/G ratio of 1.71 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, research analysts predict that General Electric will post 4.13 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GE shares. JPMorgan Chase & Co. upped their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Vertical Research started coverage on General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. Barclays reduced their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company boosted their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.93.

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.