General Electric (NYSE:GE) Trading 5.9% Higher After Strong Earnings

Shares of General Electric (NYSE:GE) traded up 5.9% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $160.02 and last traded at $159.09. 6,384,708 shares were traded during trading, a decline of 20% from the average session volume of 7,956,995 shares. The stock had previously closed at $150.19.

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

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric’s payout ratio is presently 13.38%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. Royal Bank of Canada lifted their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Argus raised their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $167.29.

Insiders Place Their Bets

In other General Electric news, 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 value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of 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. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Institutional investors have recently made changes to their positions in the business. Halpern Financial Inc. increased its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter worth about $27,000. CGC Financial Services LLC increased its stake in shares of General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the period. Capital Analysts LLC increased its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Finally, Bfsg LLC bought a new position in General Electric during the fourth quarter valued at about $32,000. 74.77% of the stock is currently owned by institutional investors.

General Electric Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The stock has a market capitalization of $174.04 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.96 and a beta of 1.29. The firm has a 50 day moving average of $160.20 and a 200-day moving average of $135.55.

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.