Synovus Financial Corp Sells 32,247 Shares of General Electric (NYSE:GE)

Synovus Financial Corp lessened its stake in shares of General Electric (NYSE:GE - Free Report) by 55.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,543 shares of the conglomerate's stock after selling 32,247 shares during the quarter. Synovus Financial Corp's holdings in General Electric were worth $4,261,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock valued at $14,980,297,000 after buying an additional 410,172 shares during the period. FMR LLC grew its stake in shares of General Electric by 1.5% during the 4th quarter. FMR LLC now owns 66,823,968 shares of the conglomerate's stock worth $11,145,570,000 after purchasing an additional 965,012 shares during the period. Geode Capital Management LLC increased its holdings in shares of General Electric by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock valued at $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank acquired a new stake in shares of General Electric in the fourth quarter valued at about $2,375,439,000. Finally, Invesco Ltd. grew its position in General Electric by 14.4% during the fourth quarter. Invesco Ltd. now owns 9,544,757 shares of the conglomerate's stock worth $1,591,970,000 after buying an additional 1,204,910 shares during the period. Hedge funds and other institutional investors own 74.77% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently commented on GE. UBS Group boosted their price target on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. Northcoast Research upgraded shares of General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 9th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a "buy" rating and a $250.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $213.33.

General Electric Stock Down 0.1 %

NYSE GE traded down $0.26 during mid-day trading on Tuesday, reaching $185.74. 4,998,296 shares of the company's stock traded hands, compared to its average volume of 5,466,825. The company has a fifty day simple moving average of $197.99 and a 200-day simple moving average of $186.61. General Electric has a 1-year low of $146.78 and a 1-year high of $214.21. The company has a market cap of $199.35 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts expect that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 yield of 0.78%. This is an increase from General Electric's previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 10th. General Electric's dividend payout ratio is 24.04%.

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.