State of Alaska Department of Revenue Sells 16,095 Shares of General Electric (NYSE:GE)

State of Alaska Department of Revenue lowered its position in shares of General Electric (NYSE:GE - Free Report) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,613 shares of the conglomerate's stock after selling 16,095 shares during the quarter. State of Alaska Department of Revenue's holdings in General Electric were worth $27,459,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GE. Newport Trust Company LLC purchased a new position in General Electric during the second quarter valued at approximately $2,613,332,000. Capital World Investors lifted its holdings in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate's stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Capital International Investors lifted its holdings 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 worth $10,373,936,000 after buying an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of General Electric by 221.6% in 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 buying an additional 4,907,530 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of General Electric in the second quarter worth $580,200,000. Hedge funds and other institutional investors own 74.77% of the company's stock.

General Electric Trading Down 0.4 %

GE stock traded down $0.64 during mid-day trading on Friday, reaching $179.10. 3,974,941 shares of the stock traded hands, compared to its average volume of 4,120,726. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a one year low of $84.58 and a one year high of $194.80. The stock has a market capitalization of $194.20 billion, a PE ratio of 31.48, a PEG ratio of 1.74 and a beta of 1.18. The business has a 50-day moving average price of $179.90 and a two-hundred day moving average price of $168.56.

General Electric (NYSE:GE - Get Free Report) last posted 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. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that General Electric will post 4.2 EPS for the current 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric's payout ratio is presently 19.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GE. Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday. Melius Research boosted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted 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. Finally, StockNews.com cut shares of General Electric from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.93.

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.