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

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

Several other large investors have also recently added to or reduced their stakes in GE. Susquehanna Fundamental Investments LLC bought a new stake in shares of General Electric in the 2nd quarter valued at approximately $811,000. Kathmere Capital Management LLC grew its stake in shares of General Electric by 4.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 3,654 shares of the conglomerate’s stock valued at $581,000 after purchasing an additional 156 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of General Electric by 20.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,008 shares of the conglomerate’s stock valued at $1,909,000 after purchasing an additional 2,020 shares during the period. Ascent Group LLC grew its stake in shares of General Electric by 1.9% in the 2nd quarter. Ascent Group LLC now owns 17,005 shares of the conglomerate’s stock valued at $2,703,000 after purchasing an additional 309 shares during the period. Finally, Aviso Wealth Management grew its position in General Electric by 10.6% during the 2nd quarter. Aviso Wealth Management now owns 1,435 shares of the conglomerate’s stock worth $228,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GE. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northcoast Research began coverage on General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Melius Research increased their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.80.

General Electric Stock Performance

GE stock opened at $196.81 on Monday. The business’s fifty day moving average is $175.33 and its 200-day moving average is $175.08. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $213.00 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. General Electric has a twelve month low of $103.75 and a twelve month high of $207.65.

General Electric (NYSE:GE) last posted 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 return on equity of 18.93% and a net margin of 11.48%. Equities research analysts forecast that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

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