First Citizens Bank & Trust Co. Has $2.01 Million Stake in General Electric (NYSE:GE)

First Citizens Bank & Trust Co. decreased its position in General Electric (NYSE:GE) by 55.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,071 shares of the conglomerate’s stock after selling 15,116 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in General Electric were worth $2,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC grew its holdings in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares in the last quarter. Johnson & White Wealth Management LLC bought a new position in shares of General Electric in the 4th quarter valued at about $733,000. State Street Corp grew its holdings in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock valued at $8,181,801,000 after acquiring an additional 898,296 shares in the last quarter. Soltis Investment Advisors LLC grew its holdings in shares of General Electric by 269.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of General Electric by 60.7% in the 3rd quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have 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 report on Thursday, January 2nd. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday. Northcoast Research initiated coverage on General Electric in a report on Tuesday, January 7th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.80.

General Electric Trading Down 2.0 %

Shares of GE stock opened at $196.81 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. General Electric has a 12-month low of $103.75 and a 12-month high of $207.65. The firm has a 50 day moving average price of $175.33 and a two-hundred day moving average price of $175.08. The company has a market capitalization of $213.00 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 11.48% and a return on equity of 18.93%. As a group, analysts predict that General Electric will post 4.23 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. General Electric’s payout ratio is 18.70%.

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.