Treasurer of the State of North Carolina Sells 2,390 Shares of General Electric (NYSE:GE)

Treasurer of the State of North Carolina cut its holdings in General Electric (NYSE:GE - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 473,555 shares of the conglomerate's stock after selling 2,390 shares during the quarter. Treasurer of the State of North Carolina's holdings in General Electric were worth $78,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the period. FMR LLC increased its stake in General Electric by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the conglomerate's stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares during the period. Norges Bank acquired a new stake in shares of General Electric in the 4th quarter valued at about $2,375,439,000. Finally, Invesco Ltd. increased its position in General Electric by 14.4% in the 4th quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate's stock valued at $1,591,970,000 after buying an additional 1,204,910 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Northcoast Research raised shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Redburn Atlantic began coverage on shares of General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of General Electric from $250.00 to $203.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.73.

General Electric Stock Performance

General Electric stock traded up $3.27 during mid-day trading on Monday, reaching $184.94. 2,513,617 shares of the company's stock were exchanged, compared to its average volume of 5,461,631. The business's fifty day simple moving average is $198.36 and its 200 day simple moving average is $186.61. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a one year low of $146.78 and a one year high of $214.21. The firm has a market capitalization of $198.49 billion, a PE ratio of 30.87, a P/E/G ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Monday, March 10th. General Electric's dividend payout ratio (DPR) is currently 24.04%.

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.