Truist Financial Corp Increases Stock Holdings in General Electric (NYSE:GE)

Truist Financial Corp lifted its position in General Electric (NYSE:GE) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 228,334 shares of the conglomerate’s stock after buying an additional 5,757 shares during the period. Truist Financial Corp’s holdings in General Electric were worth $38,084,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the third quarter worth about $27,000. Hager Investment Management Services LLC purchased a new position in General Electric during the fourth quarter worth about $27,000. Finally, Peterson Financial Group Inc. purchased a new position in General Electric during the third quarter worth about $28,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

Shares of NYSE:GE opened at $209.94 on Wednesday. The firm’s 50 day moving average price is $183.40 and its 200 day moving average price is $179.67. The stock has a market cap of $225.33 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. General Electric has a fifty-two week low of $118.13 and a fifty-two week 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.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. As a group, equities research analysts predict that General Electric will post 5.39 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed 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 represents a $1.44 dividend on an annualized basis and a yield of 0.69%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Redburn Atlantic assumed coverage on shares of General Electric in a research report on Tuesday. They set a “buy” rating and a $250.00 price target on the stock. Northcoast Research assumed coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus 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.