General Electric (NYSE:GE) Stock Price Up 0.7%

General Electric (NYSE:GE)’s share price was up 0.7% during mid-day trading on Friday . The company traded as high as $165.30 and last traded at $163.76. Approximately 1,178,845 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 7,908,081 shares. The stock had previously closed at $162.64.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. The Goldman Sachs Group increased their price target on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company lifted their price target on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

General Electric Trading Up 0.9 %

The company’s fifty day moving average is $161.72 and its 200-day moving average is $137.50. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $179.64 billion, a P/E ratio of 53.81, a P/E/G ratio of 2.84 and a beta of 1.25.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 3.95 earnings per share for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. This is a boost from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GE. Dakota Wealth Management grew its holdings in General Electric by 163.4% during the third quarter. Dakota Wealth Management now owns 5,577 shares of the conglomerate’s stock valued at $617,000 after purchasing an additional 3,460 shares during the period. Raymond James & Associates lifted its holdings in General Electric by 7.0% during the third quarter. Raymond James & Associates now owns 595,259 shares of the conglomerate’s stock worth $65,806,000 after acquiring an additional 39,046 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of General Electric by 7.6% in the third quarter. Stratos Wealth Partners LTD. now owns 15,613 shares of the conglomerate’s stock worth $1,726,000 after acquiring an additional 1,101 shares in the last quarter. Stratos Wealth Advisors LLC raised its position in shares of General Electric by 35.7% during the third quarter. Stratos Wealth Advisors LLC now owns 4,342 shares of the conglomerate’s stock worth $480,000 after purchasing an additional 1,143 shares during the period. Finally, J.W. Cole Advisors Inc. grew its position in shares of General Electric by 13.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 11,095 shares of the conglomerate’s stock valued at $1,227,000 after purchasing an additional 1,330 shares during the period. 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.