New Mexico Educational Retirement Board reduced its holdings in General Electric Company (NYSE:GE) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 809,472 shares of the conglomerate’s stock after selling 75,100 shares during the period. General Electric comprises 1.0% of New Mexico Educational Retirement Board’s holdings, making the stock its 15th biggest position. New Mexico Educational Retirement Board’s holdings in General Electric were worth $20,731,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A lifted its stake in shares of General Electric by 0.3% in the 1st quarter. OLD Point Trust & Financial Services N A now owns 207,866 shares of the conglomerate’s stock valued at $6,194,000 after purchasing an additional 700 shares during the period. Abner Herrman & Brock LLC lifted its stake in shares of General Electric by 4.2% in the 1st quarter. Abner Herrman & Brock LLC now owns 411,003 shares of the conglomerate’s stock valued at $12,248,000 after purchasing an additional 16,648 shares during the period. Monarch Capital Management Inc. lifted its stake in shares of General Electric by 1.4% in the 1st quarter. Monarch Capital Management Inc. now owns 168,758 shares of the conglomerate’s stock valued at $5,029,000 after purchasing an additional 2,389 shares during the period. Wagner Bowman Management Corp lifted its stake in shares of General Electric by 2.2% in the 1st quarter. Wagner Bowman Management Corp now owns 112,145 shares of the conglomerate’s stock valued at $3,341,000 after purchasing an additional 2,439 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of General Electric by 3.3% in the 1st quarter. Diversified Trust Co now owns 82,960 shares of the conglomerate’s stock valued at $2,472,000 after purchasing an additional 2,647 shares during the period. 54.38% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director James S. Tisch acquired 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is currently owned by company insiders.

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Shares of General Electric Company (NYSE:GE) opened at $20.49 on Friday. The firm has a market cap of $173,354.97, a P/E ratio of 16.12, a P/E/G ratio of 2.09 and a beta of 1.11. General Electric Company has a 1-year low of $19.63 and a 1-year high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period in the previous year, the business posted $0.32 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts forecast that General Electric Company will post 1.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.69%. General Electric’s payout ratio is currently 120.00%.

Several equities analysts recently issued reports on GE shares. UBS AG reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Bank of America Corporation upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, October 23rd. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price objective for the company. in a research report on Wednesday, September 13th. Credit Suisse Group restated an “outperform” rating and set a $33.00 price objective on shares of General Electric in a research report on Saturday, July 22nd. Finally, J P Morgan Chase & Co restated a “sell” rating and set a price objective on shares of General Electric in a research report on Thursday, October 19th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and a consensus target price of $25.55.

About General Electric

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

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