Teachers Retirement System of The State of Kentucky Sells 5,288 Shares of General Electric (NYSE:GE)

Teachers Retirement System of The State of Kentucky lessened its stake in General Electric (NYSE:GE - Free Report) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,502 shares of the conglomerate's stock after selling 5,288 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in General Electric were worth $15,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its position in General Electric by 117.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock valued at $51,000 after purchasing an additional 146 shares during the last quarter. Mackenzie Financial Corp raised its position in General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate's stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in General Electric during the 2nd quarter valued at approximately $1,569,000. State Street Corp raised its position in General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Finally, Senator Investment Group LP bought a new position in General Electric during the 2nd quarter valued at approximately $34,973,000. Institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GE shares. Bank of America increased their target price on General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on General Electric from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $201.93.

Insider Buying and Selling at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

General Electric Stock Down 2.3 %

GE traded down $3.83 during trading on Thursday, hitting $164.81. 7,806,587 shares of the company's stock traded hands, compared to its average volume of 6,135,910. The company's 50 day simple moving average is $181.11 and its two-hundred day simple moving average is $172.48. 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 12-month low of $95.92 and a 12-month high of $194.80. The stock has a market capitalization of $178.37 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the business posted $0.82 EPS. The company's revenue was up 5.8% compared to the same quarter last year. Analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 annualized dividend and a yield of 0.68%. General Electric's dividend payout ratio is 19.68%.

General Electric Company 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.