General Electric (NYSE:GE) Stock Price Up 1% – Here’s What Happened

Shares of General Electric (NYSE:GE) rose 1% on Tuesday . The stock traded as high as $170.90 and last traded at $170.70. Approximately 637,784 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 6,121,309 shares. The stock had previously closed at $169.02.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GE. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada dropped their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.93.

General Electric Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a fifty day moving average price of $176.69 and a 200 day moving average price of $172.69. The firm has a market capitalization of $185.60 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of General Electric

A number of hedge funds have recently bought and sold shares of GE. Studio Investment Management LLC increased its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric during the third quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in General Electric in the 3rd quarter valued at $28,000. 74.77% of the stock is owned by institutional investors.

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.