Retirement Systems of Alabama raised its stake in shares of General Electric Company (NYSE:GE) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,200,221 shares of the conglomerate’s stock after purchasing an additional 5,056 shares during the period. General Electric accounts for 0.9% of Retirement Systems of Alabama’s portfolio, making the stock its 12th largest holding. Retirement Systems of Alabama owned 0.07% of General Electric worth $167,468,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Ullmann Financial Group Inc. bought a new stake in shares of General Electric in the first quarter valued at approximately $106,000. PHH Investments Ltd. boosted its position in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the period. Oakmont Partners LLC boosted its position in shares of General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after acquiring an additional 278 shares during the period. Cascade Investment Advisors Inc. boosted its position in shares of General Electric by 25.2% in the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 1,625 shares during the period. Finally, Barber Financial Group Inc. boosted its position in shares of General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 220 shares during the period. Institutional investors own 54.53% of the company’s stock.
Shares of General Electric Company (NYSE:GE) opened at $20.14 on Friday. The company has a market cap of $172.92 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.56.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts forecast that General Electric Company will post 1.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.77%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other General Electric news, CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James S. Tisch bought 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the company a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc set a $28.00 price objective on General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. UBS Group AG (USA) cut General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Finally, Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $25.84.
General Electric Profile
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