Public Employees Retirement Association Of Colorado Sells 3,589 General Electric (NYSE:GE) Shares

Public Employees Retirement Association of Colorado cut its holdings in shares of General Electric (NYSE:GE – Free Report ) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). ). The firm owned 152,290 shares of the conglomerate’s stock after selling 3,589 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in General Electric were worth $24,210,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Capital International Investors raised its position in 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 purchasing an additional 5,309,543 shares in the last quarter. Capital World Investors boosted its holdings in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Canada Pension Plan Investment Board increased its position in 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 valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in General Electric by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,655,053 shares of the conglomerate’s stock worth $849,385,000 after buying an additional 426,794 shares in the last quarter. 74.77% of shares are currently owned by institutional investors.

Analysts on Wall Street are forecasting an increase

A number of analysts recently weighed in on the company. UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Jefferies Financial Group boosted their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Sanford C. Bernstein assumed coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. . Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $191.36, according to MarketBeat.

Check out our latest research report on General Electric

General Electric price performance

Shares of GE stock opened at $187.39 on Friday. The stock has a market cap of $205.12 billion, a P/E ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $187.99. The stock’s 50-day moving average is $168.69, and its two-hundred-day moving average is $170.96. The company has a current ratio of 1.14, a quick ratio of 0.85, and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. In the same quarter last year, the firm earned $0.68 EPS. On average, equities analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents an annualized dividend of $1.12 and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26. General Electric’s dividend payout ratio (DPR) is 36.72%.

About General Electric

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General Electric Company, doing business as GE Aerospace, designs and manufactures commercial and defense aircraft engines, integrated engine components, electrical power and aircraft mechanical systems. They also offer aftermarket services to support their products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East and Africa.

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