General Electric (NYSE:GE) Trading Up 0.4%

General Electric (NYSE:GE) shot up 0.4% during trading on Wednesday . The company traded as high as $161.00 and last traded at $160.41. 844,335 shares traded hands during trading, a decline of 89% from the average session volume of 7,344,090 shares. The stock had previously closed at $159.73.

Analyst Ratings Changes

Several research firms have recently weighed in on GE. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their price target for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Argus increased their price target on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company upped their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.27.

General Electric Trading Down 0.2 %

The company’s 50-day moving average price is $161.89 and its 200 day moving average price is $150.77. The stock has a market cap of $174.58 billion, a PE ratio of 52.48, a price-to-earnings-growth 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.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period last year, the business earned $0.27 EPS. General Electric’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that General Electric will post 3.99 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Insider Buying and Selling

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction 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 directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

Hedge funds have recently added to or reduced their stakes in the business. Choate Investment Advisors grew its stake in shares of General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after acquiring an additional 65 shares in the last quarter. Walker Asset Management LLC raised its position in shares of General Electric by 1.7% in the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 70 shares during the period. Global Financial Private Client LLC raised its stake in shares of General Electric by 3.8% during the 1st quarter. Global Financial Private Client LLC now owns 1,956 shares of the conglomerate’s stock valued at $343,000 after purchasing an additional 71 shares during the period. BKM Wealth Management LLC lifted its holdings in shares of General Electric by 2.6% in the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after buying an additional 72 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in General Electric by 1.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock worth $663,000 after purchasing an additional 72 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.