General Electric (NYSE:GE) Shares Bought by Kentucky Retirement Systems

Kentucky Retirement Systems grew its holdings in shares of General Electric (NYSE:GE – Get Rating) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,836 shares of the conglomerate’s stock after purchasing an additional 4,146 shares during the period. Kentucky Retirement Systems’ holdings in General Electric were worth $5,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in General Electric by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock worth $5,330,997,000 after purchasing an additional 625,757 shares during the period. FMR LLC increased its position in General Electric by 8.4% during the 2nd quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock worth $4,263,567,000 after purchasing an additional 5,197,786 shares during the period. Dodge & Cox increased its position in General Electric by 178.6% during the 2nd quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock worth $1,844,309,000 after purchasing an additional 18,569,368 shares during the period. Pzena Investment Management LLC increased its position in General Electric by 5.6% during the 3rd quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after purchasing an additional 725,871 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of General Electric by 1.2% in the 2nd quarter. Northern Trust Corp now owns 10,668,591 shares of the conglomerate’s stock worth $679,270,000 after acquiring an additional 127,322 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America upped their price target on General Electric from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Argus upped their price target on General Electric from $85.00 to $90.00 in a report on Tuesday, January 31st. StockNews.com assumed coverage on General Electric in a report on Friday, March 10th. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their price target on General Electric from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on General Electric from $89.00 to $94.00 in a report on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.86.

General Electric Trading Up 2.5 %

GE stock opened at $91.17 on Wednesday. The company has a market cap of $99.31 billion, a price-to-earnings ratio of -3,039.00, a PEG ratio of 6.66 and a beta of 1.25. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $81.95 and a 200-day simple moving average of $78.46. General Electric has a 52 week low of $46.55 and a 52 week high of $94.94.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. General Electric had a return on equity of 8.47% and a net margin of 0.29%. The business had revenue of $21.79 billion during the quarter, compared to the consensus estimate of $22.11 billion. During the same period in the prior year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts expect that General Electric will post 1.95 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.32 annualized dividend and a yield of 0.35%. General Electric’s dividend payout ratio is currently -1,066.67%.

About General Electric

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.