General Electric (NYSE:GE) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of General Electric (NYSE:GE) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 202,207 shares of the conglomerate’s stock after selling 32,214 shares during the quarter. Truist Financial Corp’s holdings in General Electric were worth $25,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Halpern Financial Inc. lifted its stake in shares of General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of General Electric during the fourth quarter valued at approximately $27,000. CGC Financial Services LLC lifted its stake in shares of General Electric by 90.2% during 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% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC purchased a new position in General Electric during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GE shares. Wells Fargo & Company increased their price target on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group increased their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays cut their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com started coverage on shares of General Electric in a research note on Monday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

General Electric Price Performance

General Electric stock opened at $164.49 on Tuesday. General Electric has a 52-week low of $77.93 and a 52-week high of $166.07. The firm has a fifty day moving average of $161.02 and a 200-day moving average of $136.80. The firm has a market capitalization of $180.05 billion, a P/E ratio of 53.93, a PEG ratio of 2.90 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 5.05% and a return on equity of 12.54%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. As a group, analysts predict that General Electric will post 3.93 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the firm’s 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 transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Company 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.