California Public Employees Retirement System Sells 147,410 Shares of General Electric (NYSE:GE)

California Public Employees Retirement System lessened its position in shares of General Electric (NYSE:GE - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,862,728 shares of the conglomerate's stock after selling 147,410 shares during the quarter. California Public Employees Retirement System owned about 0.17% of General Electric worth $310,684,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. RWA Wealth Partners LLC grew its holdings in General Electric by 1.4% during the 4th quarter. RWA Wealth Partners LLC now owns 23,263 shares of the conglomerate's stock worth $3,880,000 after acquiring an additional 315 shares during the period. Schroder Investment Management Group boosted its position in shares of General Electric by 50.0% in the 4th quarter. Schroder Investment Management Group now owns 1,134,597 shares of the conglomerate's stock worth $190,726,000 after purchasing an additional 378,371 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of General Electric by 298.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 153,178 shares of the conglomerate's stock worth $25,549,000 after purchasing an additional 114,764 shares during the period. American Money Management LLC increased its holdings in General Electric by 3.4% in the fourth quarter. American Money Management LLC now owns 17,209 shares of the conglomerate's stock valued at $2,870,000 after purchasing an additional 566 shares during the last quarter. Finally, Okabena Investment Services Inc. lifted its stake in General Electric by 5.8% in the fourth quarter. Okabena Investment Services Inc. now owns 11,093 shares of the conglomerate's stock valued at $1,850,000 after buying an additional 609 shares during the period. Institutional investors own 74.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America upped their price target on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. UBS Group upped their target price on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Finally, Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and an average price target of $211.31.

General Electric Stock Down 1.5 %

Shares of GE stock traded down $3.14 during trading on Wednesday, reaching $200.65. The company's stock had a trading volume of 2,696,312 shares, compared to its average volume of 5,473,792. The company has a market cap of $215.36 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a one year low of $133.99 and a one year high of $214.21. The business has a fifty day moving average price of $202.20 and a 200-day moving average price of $187.04. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.

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.