New York State Teachers Retirement System Sells 48,441 Shares of General Electric (NYSE:GE)

New York State Teachers Retirement System trimmed its position in General Electric (NYSE:GE) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037,291 shares of the conglomerate’s stock after selling 48,441 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of General Electric worth $195,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter worth $27,000. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of General Electric in the 2nd quarter valued at $32,000. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GE has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

NYSE GE traded up $0.70 during trading on Wednesday, reaching $174.75. 415,392 shares of the company’s stock were exchanged, compared to its average volume of 6,329,983. General Electric has a fifty-two week low of $84.66 and a fifty-two week high of $194.80. The stock has a market capitalization of $189.13 billion, a P/E ratio of 30.60, a PEG ratio of 1.74 and a beta of 1.18. The business has a 50 day moving average price of $180.07 and a 200-day moving average price of $168.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last announced its quarterly earnings results 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 the consensus estimate of $9.02 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.64%. General Electric’s dividend payout ratio is currently 19.68%.

General Electric 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.