General Electric (NYSE:GE) Stock Price Up 0.5%

General Electric (NYSE:GE) traded up 0.5% during trading on Wednesday . The stock traded as high as $187.64 and last traded at $187.27. 663,927 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 6,525,828 shares. The stock had previously closed at $186.30.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GE shares. Royal Bank of Canada lifted their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Sanford C. Bernstein began coverage on shares of General Electric in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group raised their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Trading Up 0.4 %

The firm has a market cap of $204.81 billion, a P/E ratio of 61.40, a PEG ratio of 1.87 and a beta of 1.18. The company has a 50 day moving average of $172.31 and a 200 day moving average of $169.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 EPS. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio is currently 36.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GE. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in General Electric in the 2nd quarter worth $31,000. Richardson Financial Services Inc. acquired a new position in General Electric during the 1st quarter worth $34,000. Financial Connections Group Inc. bought a new stake in General Electric during the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of General Electric in the first quarter worth about $37,000. Institutional investors and hedge funds 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.