New Mexico Educational Retirement Board Has $11.21 Million Stake in General Electric (NYSE:GE)

New Mexico Educational Retirement Board lifted its position in shares of General Electric (NYSE:GE) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,877 shares of the conglomerate’s stock after buying an additional 7,200 shares during the period. New Mexico Educational Retirement Board’s holdings in General Electric were worth $11,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GE. Halpern Financial Inc. raised its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in General Electric in the fourth quarter valued at approximately $27,000. CGC Financial Services LLC raised its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares during the period. Capital Analysts LLC raised its stake in General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC bought a new stake in General Electric in the fourth quarter valued at approximately $32,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

Shares of GE traded down $1.53 during trading hours on Friday, reaching $158.97. The stock had a trading volume of 8,641,197 shares, compared to its average volume of 6,007,353. General Electric has a 12 month low of $84.42 and a 12 month high of $170.80. The stock has a market capitalization of $174.01 billion, a PE ratio of 52.12, a PEG ratio of 1.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company’s 50-day moving average is $162.36 and its two-hundred day moving average is $151.37.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. Research analysts expect that General Electric will post 4 EPS for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. Barclays dropped their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Citigroup upped their price objective on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. UBS Group increased their target price on General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Argus increased their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada increased their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.36.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

About General Electric

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