Retirement Systems of Alabama Has $78.58 Million Stake in General Electric (NYSE:GE)

Retirement Systems of Alabama decreased its stake in shares of General Electric (NYSE:GE) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 615,685 shares of the conglomerate’s stock after selling 6,225 shares during the quarter. Retirement Systems of Alabama owned about 0.06% of General Electric worth $78,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GE. Northern Trust Corp grew its position in General Electric by 4.0% in the 3rd quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after purchasing an additional 410,061 shares during the period. Morgan Stanley lifted its stake in General Electric by 5.1% during the 3rd quarter. Morgan Stanley now owns 8,955,511 shares of the conglomerate’s stock valued at $990,032,000 after acquiring an additional 434,736 shares in the last quarter. WCM Investment Management LLC bought a new position in General Electric during the 4th quarter valued at $520,488,000. Meritage Group LP lifted its stake in General Electric by 3.5% during the 3rd quarter. Meritage Group LP now owns 3,294,044 shares of the conglomerate’s stock valued at $364,157,000 after acquiring an additional 110,000 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in General Electric by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,074,080 shares of the conglomerate’s stock valued at $339,848,000 after acquiring an additional 32,643 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE traded up $1.09 during midday trading on Friday, hitting $162.35. 5,898,021 shares of the company’s stock were exchanged, compared to its average volume of 9,321,559. General Electric has a 12-month low of $77.28 and a 12-month 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 has a market cap of $177.71 billion, a price-to-earnings ratio of 53.23, a PEG ratio of 3.05 and a beta of 1.29. The business’s fifty day moving average price is $160.72 and its two-hundred day moving average price is $136.27.

General Electric (NYSE:GE) last issued 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 analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, research analysts forecast that General Electric will post 3.93 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid 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 a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

GE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Barclays lowered their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Citigroup lifted their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price objective for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus price target of $170.00.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.