1,613 Shares in General Electric (NYSE:GE) Purchased by Teachers Insurance & Annuity Association of America

Teachers Insurance & Annuity Association of America acquired a new stake in General Electric (NYSE:GE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,613 shares of the conglomerate’s stock, valued at approximately $304,000. General Electric makes up approximately 0.5% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric in the third quarter valued at $27,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of General Electric during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Down 2.2 %

General Electric stock traded down $4.00 during midday trading on Thursday, reaching $180.60. The stock had a trading volume of 2,726,189 shares, compared to its average volume of 6,172,569. The stock’s 50-day simple moving average is $183.23 and its 200 day simple moving average is $171.44. General Electric has a twelve month low of $94.54 and a twelve month high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market capitalization of $195.46 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

GE has been the subject of several recent research reports. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Bank of America boosted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.93.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

General Electric Company Profile

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.