Maryland State Retirement & Pension System cut its position in General Electric (NYSE:GE - Free Report) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,040 shares of the conglomerate's stock after selling 4,743 shares during the quarter. Maryland State Retirement & Pension System's holdings in General Electric were worth $9,680,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Hager Investment Management Services LLC purchased a new stake in shares of General Electric during the 4th quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new position in General Electric in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of General Electric during the fourth quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of General Electric during the 3rd quarter worth $30,000. Finally, Picton Mahoney Asset Management increased its holdings in General Electric by 62.4% in the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock valued at $30,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Bank of America increased their target price on General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft dropped their target price on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Finally, UBS Group boosted their price objective on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.
Check Out Our Latest Analysis on General Electric
General Electric Stock Performance
GE stock traded up $0.06 during midday trading on Friday, reaching $203.99. The company had a trading volume of 7,960,224 shares, compared to its average volume of 5,356,361. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $198.63 and a 200 day moving average price of $185.01. The firm has a market capitalization of $218.94 billion, a PE ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. General Electric has a fifty-two week low of $133.99 and a fifty-two week high of $212.19.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is currently 24.04%.
General Electric Profile
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Free Report)
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.
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