Teacher Retirement System of Texas Cuts Position in General Electric (NYSE:GE)

Teacher Retirement System of Texas reduced its stake in General Electric (NYSE:GE) by 63.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 504,449 shares of the conglomerate’s stock after selling 864,101 shares during the quarter. Teacher Retirement System of Texas’ holdings in General Electric were worth $3,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. FMR LLC increased its position in shares of General Electric by 61.4% during the 4th quarter. FMR LLC now owns 301,446,675 shares of the conglomerate’s stock valued at $2,281,952,000 after purchasing an additional 114,680,188 shares during the last quarter. Actinver Wealth Management Inc. purchased a new stake in shares of General Electric during the 4th quarter valued at $2,253,000. Aspire Private Capital LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $45,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of General Electric during the 4th quarter valued at $1,302,000. Finally, Bell & Brown Wealth Advisors LLC increased its position in shares of General Electric by 14.0% during the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 100,038 shares of the conglomerate’s stock valued at $757,000 after purchasing an additional 12,251 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

In related news, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on GE shares. Barclays lifted their price objective on General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. ValuEngine lowered General Electric from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Gordon Haskett lowered General Electric to an “underperform” rating and set a $7.00 price objective for the company. in a report on Wednesday, March 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $6.00 price objective on shares of General Electric in a report on Wednesday, March 6th. Finally, Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $11.89.

Shares of NYSE GE traded up $0.11 during mid-day trading on Friday, hitting $10.50. 43,961,287 shares of the stock traded hands, compared to its average volume of 48,486,456. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. The stock has a fifty day moving average of $10.00. General Electric has a 52 week low of $6.66 and a 52 week high of $14.29. The company has a market capitalization of $90.70 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.98.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. General Electric’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts forecast that General Electric will post 0.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Friday, June 28th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

About General Electric

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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