General Electric (NYSE:GE) Shares Up 0.3%

General Electric (NYSE:GE) shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $155.38 and last traded at $154.10. 1,302,904 shares were traded during trading, a decline of 84% from the average session volume of 7,959,662 shares. The stock had previously closed at $153.70.

Analyst Ratings Changes

A number of research firms have recently issued reports on GE. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Barclays dropped their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. The Goldman Sachs Group started coverage on shares of General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 price objective for the company. Royal Bank of Canada lowered their price target on shares of General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $160.07.

General Electric Price Performance

The business’s 50-day simple moving average is $158.87 and its 200-day simple moving average is $133.96. The stock has a market cap of $170.19 billion, a PE ratio of 18.60, a PEG ratio of 3.07 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $19.42 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts expect that General Electric will post 3.78 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s payout ratio is currently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Halpern Financial Inc. grew its holdings in General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the period. Aspect Partners LLC purchased a new stake in General Electric in the fourth quarter worth about $25,000. Criterion Capital Advisors LLC purchased a new stake in General Electric in the fourth quarter worth about $27,000. Dagco Inc. bought a new position in shares of General Electric in the fourth quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of General Electric in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Company 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.