State of Michigan Retirement System Has $52.34 Million Position in General Electric (NYSE:GE)

State of Michigan Retirement System boosted its holdings in shares of General Electric (NYSE:GE) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,161 shares of the conglomerate’s stock after buying an additional 200 shares during the period. State of Michigan Retirement System’s holdings in General Electric were worth $52,336,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Halpern Financial Inc. boosted its stake in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $27,000. CGC Financial Services LLC boosted its stake in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 110 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Barclays reduced their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. UBS Group upped their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Oppenheimer restated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

Insider Buying and Selling

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

General Electric Trading Up 1.6 %

Shares of NYSE:GE traded up $2.50 during mid-day trading on Tuesday, reaching $161.47. The stock had a trading volume of 5,246,791 shares, compared to its average volume of 7,303,346. The firm has a market cap of $176.75 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The firm has a 50 day simple moving average of $162.53 and a two-hundred day simple moving average of $151.85. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. General Electric has a twelve month low of $84.42 and a twelve month high of $170.80.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the company posted $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that General Electric will post 4 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s payout ratio is 36.72%.

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.