Teachers Retirement System of The State of Kentucky Trims Position in General Electric (NYSE:GE)

Teachers Retirement System of The State of Kentucky reduced its position in General Electric (NYSE:GE) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 86,790 shares of the conglomerate’s stock after selling 2,313 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Electric were worth $13,797,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Aveo Capital Partners LLC purchased a new position in shares of General Electric during the 4th quarter worth about $203,000. Eagle Asset Management Inc. grew its position in General Electric by 24.9% during the fourth quarter. Eagle Asset Management Inc. now owns 53,783 shares of the conglomerate’s stock valued at $6,864,000 after acquiring an additional 10,705 shares during the period. Jones Financial Companies Lllp increased its stake in General Electric by 6.5% during the fourth quarter. Jones Financial Companies Lllp now owns 3,439 shares of the conglomerate’s stock worth $439,000 after acquiring an additional 210 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in General Electric during the fourth quarter worth about $239,000. Finally, Rafferty Asset Management LLC raised its holdings in shares of General Electric by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 91,297 shares of the conglomerate’s stock worth $11,652,000 after purchasing an additional 4,735 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Stock Down 1.2 %

GE stock opened at $186.30 on Wednesday. The stock has a market cap of $203.93 billion, a PE ratio of 61.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The firm’s 50-day simple moving average is $172.31 and its 200 day simple moving average is $169.45. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $190.88. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GE. Wells Fargo & Company raised their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $191.36.

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.