General Electric (NYSE:GE) Trading Up 1%

General Electric (NYSE:GE)’s stock price shot up 1% on Tuesday . The stock traded as high as $162.54 and last traded at $162.19. 1,196,339 shares were traded during mid-day trading, a decline of 84% from the average session volume of 7,351,605 shares. The stock had previously closed at $160.54.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GE. Royal Bank of Canada boosted their price objective on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Argus boosted their price target 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. Wells Fargo & Company increased their price objective on shares of General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Vertical Research initiated coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $177.27.

General Electric Trading Up 0.6 %

The company has a market cap of $175.86 billion, a PE ratio of 52.68, a PEG ratio of 1.70 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a 50 day simple moving average of $161.89 and a two-hundred day simple moving average of $150.77.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Sell-side analysts forecast that General Electric will post 3.99 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric 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 transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Halpern Financial Inc. lifted its position in shares of General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new position in General Electric in the fourth quarter worth $27,000. CGC Financial Services LLC boosted its stake in General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC increased its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC acquired a new position in shares of General Electric in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

About General Electric

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.