Maryland State Retirement & Pension System Has $10.77 Million Stock Holdings in General Electric (NYSE:GE)

Maryland State Retirement & Pension System raised its stake in shares of General Electric (NYSE:GE) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,405 shares of the conglomerate’s stock after buying an additional 899 shares during the period. Maryland State Retirement & Pension System’s holdings in General Electric were worth $10,773,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. raised its stake in shares of General Electric by 7.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,613 shares of the conglomerate’s stock worth $1,726,000 after purchasing an additional 1,101 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in General Electric by 35.7% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,342 shares of the conglomerate’s stock worth $480,000 after buying an additional 1,143 shares during the period. Sage Mountain Advisors LLC lifted its holdings in shares of General Electric by 5.6% during the third quarter. Sage Mountain Advisors LLC now owns 3,532 shares of the conglomerate’s stock worth $390,000 after buying an additional 188 shares in the last quarter. Chicago Capital LLC boosted its position in shares of General Electric by 2.8% in the third quarter. Chicago Capital LLC now owns 18,264 shares of the conglomerate’s stock valued at $2,019,000 after acquiring an additional 491 shares during the period. Finally, Everhart Financial Group Inc. grew its stake in shares of General Electric by 6.5% in the third quarter. Everhart Financial Group Inc. now owns 4,317 shares of the conglomerate’s stock valued at $477,000 after acquiring an additional 263 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 1.1 %

General Electric stock traded up $1.89 during trading on Tuesday, hitting $169.86. 3,176,940 shares of the company were exchanged, compared to its average volume of 7,850,195. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $162.20 and its 200 day moving average is $138.73. General Electric has a 52 week low of $78.17 and a 52 week high of $170.80. The company has a market capitalization of $185.93 billion, a P/E ratio of 55.53, a PEG ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. Analysts predict that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio is presently 36.72%.

Analysts Set New Price Targets

GE has been the topic of a number of analyst reports. Citigroup increased their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and increased their price target for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Barclays lowered their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Bank of America upped their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.