General Electric Co. (GE) Reaches New 1-Year High at $32.10
Shares of General Electric Co. (NYSE:GE) reached a new 52-week high on Thursday . The stock traded as high as $32.10 and last traded at $31.92, with a volume of 19,363,834 shares. The stock had previously closed at $31.74.
Several research firms recently weighed in on GE. Deutsche Bank AG reissued a “hold” rating on shares of General Electric in a report on Sunday, April 17th. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Independent Research GmbH set a $37.00 price target on General Electric and gave the stock a “buy” rating in a report on Tuesday, April 26th. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target for the company in a report on Monday, June 27th. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.84.
The company’s 50 day moving average price is $30.47 and its 200-day moving average price is $30.08. The company has a market cap of $296.10 billion and a PE ratio of 43.63.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $27.60 billion for the quarter, compared to analysts’ expectations of $27.67 billion. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Equities research analysts expect that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Monday, June 20th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%.
In other General Electric news, CEO Jeffrey R. Immelt acquired 67,600 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average price of $29.59 per share, for a total transaction of $2,000,284.00. Following the completion of the transaction, the chief executive officer now owns 2,158,688 shares of the company’s stock, valued at approximately $63,875,577.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in General Electric stock. Toth Financial raised its position in General Electric Co. (NYSE:GE) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 282,981 shares of the company’s stock after buying an additional 4,756 shares during the period. General Electric accounts for 2.9% of Toth Financial’s investment portfolio, making the stock its 3rd largest position. Toth Financial’s holdings in General Electric were worth $8,815,000 at the end of the most recent quarter.
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