Truist Financial Corp Purchases 5,089 Shares of General Electric (NYSE:GE)

Truist Financial Corp lifted its position in General Electric (NYSE:GE – Get Rating) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 213,276 shares of the conglomerate’s stock after buying an additional 5,089 shares during the period. Truist Financial Corp’s holdings in General Electric were worth $13,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Coston McIsaac & Partners bought a new position in shares of General Electric in the second quarter worth approximately $25,000. James Investment Research Inc. bought a new position in General Electric during the second quarter valued at approximately $28,000. Global Wealth Management Investment Advisory Inc. lifted its position in General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 299 shares during the period. Avion Wealth lifted its position in General Electric by 794.8% during the second quarter. Avion Wealth now owns 519 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 461 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new position in General Electric during the second quarter valued at approximately $34,000. Institutional investors own 70.12% of the company’s stock.

General Electric Stock Performance

GE opened at $71.94 on Monday. The stock has a market capitalization of $78.61 billion, a price-to-earnings ratio of -13.01, a PEG ratio of 2.41 and a beta of 1.22. The company has a fifty day moving average of $82.71 and a 200 day moving average of $74.42. General Electric has a fifty-two week low of $46.55 and a fifty-two week high of $80.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.10.

General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The conglomerate reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). General Electric had a negative net margin of 7.78% and a positive return on equity of 7.20%. The business had revenue of $19.08 billion for the quarter, compared to the consensus estimate of $18.77 billion. During the same quarter last year, the business earned $0.57 EPS. General Electric’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that General Electric will post 2.54 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.32 annualized dividend and a yield of 0.44%. General Electric’s dividend payout ratio (DPR) is currently -5.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GE. Barclays lowered their price objective on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup increased their price target on shares of General Electric from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. Royal Bank of Canada increased their price target on shares of General Electric from $93.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, December 9th. Morgan Stanley increased their price target on shares of General Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. Finally, Oppenheimer upgraded shares of General Electric from a “market perform” rating to an “outperform” rating and set a $104.00 price target on the stock in a research report on Tuesday, December 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $93.42.

General Electric Company Profile

(Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.