General Electric (NYSE:GE) Given Consensus Rating of “Moderate Buy” by Brokerages

General Electric (NYSE:GE) has earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $181.93.

Several research analysts recently weighed in on GE shares. Citigroup upped their price target on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Vertical Research started coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Barclays reduced their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and raised their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently made changes to their positions in GE. Wellington Management Group LLP raised its holdings in shares of General Electric by 20.4% in the third quarter. Wellington Management Group LLP now owns 131,563 shares of the conglomerate’s stock valued at $14,544,000 after buying an additional 22,265 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of General Electric by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock worth $2,246,000 after acquiring an additional 2,171 shares during the period. Anchor Investment Management LLC acquired a new position in shares of General Electric during the fourth quarter worth about $942,000. DNB Asset Management AS increased its stake in shares of General Electric by 1.3% during the fourth quarter. DNB Asset Management AS now owns 304,144 shares of the conglomerate’s stock worth $38,818,000 after acquiring an additional 3,931 shares during the period. Finally, St. Louis Financial Planners Asset Management LLC acquired a new position in shares of General Electric during the fourth quarter worth about $1,755,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Up 2.0 %

Shares of General Electric stock opened at $162.80 on Friday. The firm has a 50-day simple moving average of $162.31 and a two-hundred day simple moving average of $154.64. The company has a market cap of $178.20 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. General Electric has a fifty-two week low of $84.42 and a fifty-two week high of $170.80. 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 issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts predict that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

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.