New Mexico Educational Retirement Board Increases Stock Holdings in General Electric (NYSE:GE)

New Mexico Educational Retirement Board raised its stake in General Electric (NYSE:GE) by 12.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,877 shares of the conglomerate’s stock after purchasing an additional 7,200 shares during the period. New Mexico Educational Retirement Board’s holdings in General Electric were worth $11,212,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Halpern Financial Inc. grew its position in shares of 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 acquiring an additional 184 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric during the fourth quarter worth $27,000. CGC Financial Services LLC lifted its holdings in shares of General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC lifted its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC acquired a new stake in General Electric in the fourth quarter valued at $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

General Electric Trading Down 1.0 %

Shares of NYSE GE traded down $1.53 during midday trading on Friday, hitting $158.97. The stock had a trading volume of 8,641,197 shares, compared to its average volume of 6,007,353. The company has a market capitalization of $174.01 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.23. General Electric has a 1-year low of $84.42 and a 1-year high of $170.80. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $162.36 and a 200 day moving average price of $151.37.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $16.10 billion for 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 for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. On average, analysts predict that General Electric will post 4 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GE shares. JPMorgan Chase & Co. raised their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. The Goldman Sachs Group raised their target price on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Vertical Research began coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Finally, UBS Group raised their price target on General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.36.

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.