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

Shares of General Electric (NYSE:GE) rose 0.7% during mid-day trading on Wednesday . The company traded as high as $182.76 and last traded at $181.65. Approximately 771,544 shares were traded during trading, a decline of 88% from the average daily volume of 6,611,023 shares. The stock had previously closed at $180.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GE shares. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Stock Up 2.1 %

The firm has a 50 day moving average of $167.28 and a 200-day moving average of $170.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $201.47 billion, a P/E ratio of 59.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. On average, equities research analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GE. Macroview Investment Management LLC raised its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD lifted its position in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the last quarter. New England Research & Management Inc. boosted its stake in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares in the last quarter. Certified Advisory Corp grew its position in General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after acquiring an additional 63 shares during the last quarter. Finally, Argent Trust Co raised its stake in General Electric by 0.6% during the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after acquiring an additional 64 shares in the last quarter. 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.