General Electric Co. (GE) Sets New 1-Year High at $32.10
General Electric Co. (NYSE:GE) reached a new 52-week high during trading on Thursday . The stock traded as high as $32.10 and last traded at $31.92, with a volume of 19,363,834 shares changing hands. The stock had previously closed at $31.74.
Several research firms have commented on GE. Deutsche Bank AG reaffirmed a “hold” rating on shares of General Electric in a report on Sunday, April 17th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Independent Research GmbH set a $37.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, April 26th. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 price objective on the stock in a report on Monday, June 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.83.
The firm’s 50 day moving average price is $30.32 and its 200-day moving average price is $30.05. The company has a market capitalization of $293.16 billion and a PE ratio of 43.20.
General Electric (NYSE:GE) last issued its earnings results on Friday, April 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $27.60 billion for the quarter, compared to the consensus estimate of $27.67 billion. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. On average, equities research analysts forecast that General Electric Co. will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Monday, June 20th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, June 16th.
In other General Electric news, CEO Jeffrey R. Immelt bought 67,600 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average price of $29.59 per share, with a total value of $2,000,284.00. Following the purchase, the chief executive officer now owns 2,158,688 shares of the company’s stock, valued at $63,875,577.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
An institutional investor recently raised its position in General Electric stock. Toth Financial raised its stake in shares of General Electric Co. (NYSE:GE) by 1.7% during the fourth quarter, according to its most recent 13F 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 holdings, making the stock its 3rd largest position. Toth Financial’s holdings in General Electric were worth $8,815,000 as of its most recent SEC filing.