General Electric (NYSE:GE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in General Electric (NYSE:GE - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,742 shares of the conglomerate's stock after selling 4,794 shares during the period. Mutual of America Capital Management LLC's holdings in General Electric were worth $25,787,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GE. Capital International Investors grew its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate's stock valued at $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Newport Trust Company LLC acquired a new stake in General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors grew its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate's stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Legal & General Group Plc raised its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock valued at $1,336,257,000 after purchasing an additional 459,201 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate's stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $200.93.

General Electric Stock Performance

Shares of General Electric stock traded down $1.47 during trading hours on Friday, reaching $176.93. The company's stock had a trading volume of 5,302,109 shares, compared to its average volume of 5,219,509. General Electric has a one year low of $93.05 and a one year high of $194.80. The company's 50 day simple moving average is $182.29 and its 200 day simple moving average is $170.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $191.49 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19.

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

General Electric Dividend Announcement

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

Insiders Place Their Bets

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business's 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 directly owns 13,289 shares of the company's stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.