Teachers Insurance & Annuity Association of America Buys Shares of 1,613 General Electric (NYSE:GE)

Teachers Insurance & Annuity Association of America purchased a new stake in shares of General Electric (NYSE:GE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,613 shares of the conglomerate’s stock, valued at approximately $304,000. General Electric comprises approximately 0.5% of Teachers Insurance & Annuity Association of America’s portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in General Electric by 38.7% during the first quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock worth $26,280,000 after acquiring an additional 41,795 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in General Electric by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,622 shares of the conglomerate’s stock valued at $811,000 after buying an additional 115 shares during the period. Strategic Wealth Partners Ltd. acquired a new position in General Electric in the first quarter valued at about $203,000. LRI Investments LLC purchased a new position in General Electric during the first quarter worth about $325,000. Finally, Sanibel Captiva Trust Company Inc. increased its position in shares of General Electric by 36.1% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 15,024 shares of the conglomerate’s stock valued at $2,637,000 after acquiring an additional 3,985 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein boosted their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Stock Down 2.2 %

General Electric stock traded down $4.00 during midday trading on Thursday, reaching $180.60. The company’s stock had a trading volume of 2,726,189 shares, compared to its average volume of 6,172,569. The company has a market cap of $195.46 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $183.23 and a 200-day simple moving average of $171.44. General Electric has a fifty-two week low of $94.54 and a fifty-two week high of $194.80.

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 analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.62%. General Electric’s dividend payout ratio is presently 19.68%.

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.