Corebridge Financial Inc. Has $42.72 Million Holdings in General Electric (NYSE:GE)

Corebridge Financial Inc. decreased its position in shares of General Electric (NYSE:GE) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 256,133 shares of the conglomerate’s stock after selling 8,044 shares during the quarter. Corebridge Financial Inc.’s holdings in General Electric were worth $42,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. RPg Family Wealth Advisory LLC bought a new stake in shares of General Electric during the 3rd quarter valued at about $30,000. Hager Investment Management Services LLC acquired a new position in General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $29,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $29,000. Finally, Picton Mahoney Asset Management increased its stake in shares of General Electric by 62.4% in the 4th quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on General Electric in a report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Finally, Redburn Atlantic began coverage on General Electric in a research note on Tuesday, February 18th. They issued a “buy” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Performance

Shares of GE stock opened at $203.99 on Monday. General Electric has a one year low of $133.99 and a one year high of $212.19. The company has a market cap of $218.94 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.59 and a beta of 1.19. The firm has a 50-day moving average of $198.63 and a 200-day moving average of $185.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. 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.