General Electric (NYSE:GE) Stock Price Up 0.4%

Shares of General Electric (NYSE:GE) shot up 0.4% during mid-day trading on Thursday . The stock traded as high as $166.30 and last traded at $165.55. 1,190,176 shares traded hands during trading, a decline of 84% from the average session volume of 7,301,620 shares. The stock had previously closed at $164.97.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada upped their price target on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Argus lifted their price objective on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Finally, UBS Group boosted their price target on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.27.

General Electric Stock Down 0.5 %

The firm has a 50-day moving average price of $161.69 and a two-hundred day moving average price of $149.78. The company has a market capitalization of $179.78 billion, a P/E ratio of 53.85, a PEG ratio of 1.75 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Equities research analysts anticipate that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in General Electric during the third quarter worth $197,000. Dark Forest Capital Management LP increased its position in shares of General Electric by 32.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 5,015 shares of the conglomerate’s stock worth $554,000 after purchasing an additional 1,232 shares in the last quarter. LPL Financial LLC lifted its holdings in General Electric by 2.7% during the 3rd quarter. LPL Financial LLC now owns 491,017 shares of the conglomerate’s stock valued at $54,282,000 after purchasing an additional 12,726 shares during the last quarter. Mariner LLC boosted its position in General Electric by 9.7% in the third quarter. Mariner LLC now owns 168,390 shares of the conglomerate’s stock valued at $18,616,000 after buying an additional 14,944 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in General Electric by 5.4% during the third quarter. Stifel Financial Corp now owns 412,312 shares of the conglomerate’s stock worth $45,582,000 after buying an additional 21,285 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

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.