Kentucky Retirement Systems Reduces Stock Position in General Electric (NYSE:GE)

Kentucky Retirement Systems lessened its stake in shares of General Electric (NYSE:GE - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,539 shares of the conglomerate's stock after selling 6,947 shares during the quarter. Kentucky Retirement Systems' holdings in General Electric were worth $14,245,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GE. Studio Investment Management LLC lifted its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate's stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the third quarter worth about $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

General Electric Stock Performance

Shares of General Electric stock traded down $1.47 during trading hours on Friday, hitting $176.93. 5,302,109 shares of the company were exchanged, compared to its average volume of 6,243,640. The stock has a market capitalization of $191.49 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.81 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a 1 year low of $93.05 and a 1 year high of $194.80. The business has a 50-day moving average of $182.29 and a 200-day moving average of $170.57.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. As a group, analysts expect that General Electric will post 4.22 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric's dividend payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.93.

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.