General Electric (NYSE:GE) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lowered its position in shares of General Electric (NYSE:GE) by 55.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,543 shares of the conglomerate’s stock after selling 32,247 shares during the period. Synovus Financial Corp’s holdings in General Electric were worth $4,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GE. Truvestments Capital LLC raised its position in General Electric by 26.2% in the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 49 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its position in shares of General Electric by 17.6% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock worth $56,000 after purchasing an additional 50 shares during the last quarter. Ballast Advisors LLC raised its holdings in General Electric by 2.5% in the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after buying an additional 51 shares during the period. Blue Barn Wealth LLC lifted its position in General Electric by 3.8% in the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock valued at $245,000 after buying an additional 54 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in General Electric by 10.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 578 shares of the conglomerate’s stock worth $96,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

General Electric stock opened at $181.60 on Monday. The stock has a market cap of $194.91 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The company has a fifty day simple moving average of $198.36 and a 200-day simple moving average of $186.61. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12-month low of $146.78 and a 12-month high of $214.21.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that General Electric will post 5.4 EPS 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 24.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GE shares. Wells Fargo & Company reduced their price target on shares of General Electric from $250.00 to $203.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup cut their target price on General Electric from $235.00 to $227.00 and set a “buy” rating on the stock in a research report on Thursday. Northcoast Research upgraded General Electric from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group raised their target price on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.73.

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.