Truist Financial Corp Boosts Stake in General Electric (NYSE:GE)

Truist Financial Corp boosted its position in General Electric (NYSE:GE - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,334 shares of the conglomerate's stock after buying an additional 5,757 shares during the quarter. Truist Financial Corp's holdings in General Electric were worth $38,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC grew its position in shares of General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate's stock valued at $51,000 after purchasing an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new position in shares of General Electric in the fourth quarter valued at $733,000. State Street Corp grew its position in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its position in shares of General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate's stock valued at $5,318,000 after purchasing an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its position in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate's stock valued at $2,576,000 after purchasing an additional 5,162 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 4.2 %

Shares of NYSE GE traded down $8.84 during midday trading on Friday, reaching $199.90. The company had a trading volume of 5,410,517 shares, compared to its average volume of 5,419,847. General Electric has a one year low of $119.88 and a one year high of $212.19. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm's fifty day moving average price is $185.89 and its 200-day moving average price is $180.43. The stock has a market cap of $214.55 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.22.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts anticipate that General Electric will post 5.4 earnings per share 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 issued a dividend of $0.36 per share. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. General Electric's dividend payout ratio is 24.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GE shares. Citigroup lifted their price objective on General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Redburn Atlantic started coverage on General Electric in a research note on Tuesday. They set a "buy" rating and a $250.00 price objective for the company. Finally, Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.31.

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.