Retirement Systems of Alabama Has $91.70 Million Position in General Electric (NYSE:GE)

Retirement Systems of Alabama reduced its holdings in General Electric (NYSE:GE) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 549,818 shares of the conglomerate’s stock after selling 4,219 shares during the period. Retirement Systems of Alabama owned 0.05% of General Electric worth $91,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter valued at about $27,000. Peterson Financial Group Inc. bought a new stake in shares of General Electric during the 3rd quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric during the 3rd quarter worth about $30,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of NYSE:GE opened at $202.19 on Wednesday. The firm has a 50 day moving average of $177.89 and a 200-day moving average of $176.86. The stock has a market capitalization of $218.83 billion, a PE ratio of 33.75, a PEG ratio of 2.53 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $108.60 and a 12 month high of $207.65.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities research analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Friday, December 27th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 27th. General Electric’s dividend payout ratio is 18.70%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GE. Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group lifted their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $208.73.

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.