Retirement Systems of Alabama Sells 4,219 Shares of General Electric (NYSE:GE)

Retirement Systems of Alabama reduced its position in General Electric (NYSE:GE) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 549,818 shares of the conglomerate’s stock after selling 4,219 shares during the quarter. Retirement Systems of Alabama’s holdings in General Electric were worth $91,704,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GE. Sargent Investment Group LLC boosted its stake in General Electric by 6.6% during the fourth quarter. Sargent Investment Group LLC now owns 15,588 shares of the conglomerate’s stock worth $2,674,000 after acquiring an additional 961 shares in the last quarter. Old North State Wealth Management LLC boosted its stake in General Electric by 3.0% during the fourth quarter. Old North State Wealth Management LLC now owns 1,981 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 58 shares in the last quarter. 1858 Wealth Management LLC boosted its stake in General Electric by 19.8% during the fourth quarter. 1858 Wealth Management LLC now owns 9,268 shares of the conglomerate’s stock worth $1,546,000 after acquiring an additional 1,529 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake in General Electric by 8.7% during the fourth quarter. Greenwood Capital Associates LLC now owns 27,752 shares of the conglomerate’s stock worth $4,629,000 after acquiring an additional 2,210 shares in the last quarter. Finally, James J. Burns & Company LLC boosted its stake in General Electric by 65.6% during the fourth quarter. James J. Burns & Company LLC now owns 1,846 shares of the conglomerate’s stock worth $308,000 after acquiring an additional 731 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on GE shares. Northcoast Research started coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.73.

General Electric Stock Performance

Shares of GE stock opened at $202.19 on Wednesday. The firm has a 50-day moving average of $177.89 and a 200-day moving average of $176.86. The company has a market cap of $218.83 billion, a P/E ratio of 33.75, a P/E/G ratio of 2.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a one year low of $108.60 and a one year high of $207.65.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts forecast that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is 18.70%.

Insiders Place Their Bets

In other General Electric news, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.