Arizona State Retirement System Has $58.33 Million Holdings in General Electric Company (GE)
Arizona State Retirement System reduced its stake in General Electric Company (NYSE:GE) by 0.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,159,682 shares of the conglomerate’s stock after selling 200 shares during the quarter. General Electric makes up approximately 0.8% of Arizona State Retirement System’s investment portfolio, making the stock its 20th largest position. Arizona State Retirement System’s holdings in General Electric were worth $58,333,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of GE. Harris Associates L P grew its holdings in shares of General Electric by 26.4% during the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after purchasing an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of General Electric by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock worth $783,469,000 after purchasing an additional 1,357,535 shares during the period. APG Asset Management N.V. grew its holdings in shares of General Electric by 0.9% during the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after purchasing an additional 159,600 shares during the period. Boston Partners grew its holdings in shares of General Electric by 7,892.3% during the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the period. Finally, US Bancorp DE grew its holdings in shares of General Electric by 2.2% during the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after purchasing an additional 243,034 shares during the period. Institutional investors own 54.29% of the company’s stock.
A number of equities analysts have recently weighed in on the company. J P Morgan Chase & Co set a $17.00 price target on General Electric and gave the stock a “sell” rating in a report on Wednesday. Bank of America Corporation lowered their target price on General Electric from $27.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday. Morningstar, Inc. restated a “buy” rating on shares of General Electric in a report on Tuesday. Stifel Nicolaus set a $22.00 target price on General Electric and gave the company a “neutral” rating in a report on Tuesday. Finally, Goldman Sachs Group, Inc. (The) set a $22.00 target price on General Electric and gave the company a “neutral” rating in a report on Tuesday. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.02.
Shares of General Electric Company (NYSE GE) opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a 12-month low of $17.46 and a 12-month high of $32.38. The firm has a market capitalization of $164,943.92, a PE ratio of 15.34, a PEG ratio of 1.99 and a beta of 1.11.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period last year, the business posted $0.32 EPS. General Electric’s revenue was up 11.5% on a year-over-year basis. research analysts forecast that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other news, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is currently owned by company insiders.
General Electric Company Profile
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