General Electric (NYSE:GE) Shares Gap Up Following Strong Earnings

Shares of General Electric (NYSE:GE) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $150.19, but opened at $157.83. General Electric shares last traded at $156.47, with a volume of 3,871,396 shares changing hands.

The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the business posted $0.27 EPS. General Electric’s revenue was up 11.1% on a year-over-year basis.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 13.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. StockNews.com started coverage on shares of General Electric in a research note on Sunday. They issued a “hold” rating on the stock. Jefferies Financial Group lowered their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group began coverage on General Electric in a research report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

Insider Activity at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares in the company, valued at $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

Large investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC grew its holdings in shares of General Electric by 29.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares during the period. Fifth Third Bancorp grew its holdings in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after purchasing an additional 28,985 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock valued at $12,087,000 after buying an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC raised its stake in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after buying an additional 22,998 shares during the last quarter. Finally, Hoey Investments Inc. raised its stake in shares of General Electric by 51,152.3% during the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after buying an additional 22,507 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Stock Up 8.3 %

The firm has a market capitalization of $177.79 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.92 and a beta of 1.29. The firm’s 50-day moving average is $159.94 and its 200 day moving average is $135.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18.

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.