Corebridge Financial Inc. Reduces Stock Position in General Electric (NYSE:GE)

Corebridge Financial Inc. lessened its stake in shares of General Electric (NYSE:GE - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,133 shares of the conglomerate's stock after selling 8,044 shares during the period. Corebridge Financial Inc.'s holdings in General Electric were worth $42,720,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in General Electric during the 3rd quarter valued at about $30,000. Hager Investment Management Services LLC bought a new position in General Electric in the fourth quarter worth approximately $27,000. Sugar Maple Asset Management LLC bought a new position in General Electric in the fourth quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management boosted its position in General Electric by 62.4% during the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. UBS Group increased their price target on General Electric from $215.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a research note on Tuesday, February 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Finally, Northcoast Research assumed coverage on General Electric in a research report on Tuesday, January 7th. They set a "neutral" rating on the stock. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.31.

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General Electric Price Performance

General Electric stock traded up $1.95 during midday trading on Tuesday, reaching $212.18. The company had a trading volume of 4,314,312 shares, compared to its average volume of 5,346,589. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. General Electric has a 12-month low of $133.99 and a 12-month high of $212.19. The company has a market capitalization of $227.73 billion, a P/E ratio of 35.42, a P/E/G ratio of 2.59 and a beta of 1.19. The firm's fifty day simple moving average is $200.12 and its 200-day simple moving average is $185.83.

General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities analysts anticipate that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from General Electric's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric's dividend payout ratio is 24.04%.

General Electric 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.