General Electric (NYSE:GE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of General Electric (NYSE:GE - Free Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,405,505 shares of the conglomerate's stock after selling 93,464 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of General Electric worth $234,424,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GE. Cyndeo Wealth Partners LLC grew its holdings in shares of General Electric by 27.5% during the third quarter. Cyndeo Wealth Partners LLC now owns 3,076 shares of the conglomerate's stock valued at $580,000 after buying an additional 664 shares during the last quarter. OLD National Bancorp IN boosted its holdings in General Electric by 19.9% in the third quarter. OLD National Bancorp IN now owns 3,294 shares of the conglomerate's stock valued at $621,000 after purchasing an additional 547 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in General Electric in the third quarter valued at $25,000. Whittier Trust Co. boosted its holdings in General Electric by 25.8% in the third quarter. Whittier Trust Co. now owns 10,532 shares of the conglomerate's stock valued at $1,986,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC purchased a new stake in General Electric in the third quarter valued at $226,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GE. Northcoast Research began coverage on shares of General Electric in a report on Tuesday, January 7th. They issued a "neutral" rating on the stock. Wells Fargo & Company upped 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Bank of America upped their price target on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

General Electric Trading Down 4.2 %

Shares of NYSE:GE traded down $8.84 during mid-day trading on Friday, reaching $199.90. 5,410,517 shares of the company were exchanged, compared to its average volume of 5,419,847. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The firm has a market cap of $214.55 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 2.62 and a beta of 1.22. The firm's 50-day simple moving average is $185.89 and its 200 day simple moving average is $180.43. General Electric has a 1 year low of $119.88 and a 1 year high of $212.19.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share 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%. Equities research analysts forecast that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.72%. General Electric's payout ratio is 24.04%.

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.