General Electric (NYSE:GE) Stock Price Up 0% After Analyst Upgrade

General Electric (NYSE:GE) shares rose 0% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $165.00 to $192.00. Wells Fargo & Company currently has an overweight rating on the stock. General Electric traded as high as $166.26 and last traded at $164.50. Approximately 1,619,532 shares traded hands during trading, a decline of 80% from the average daily volume of 7,999,594 shares. The stock had previously closed at $164.49.

A number of other research firms have also recently commented on GE. The Goldman Sachs Group increased their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Argus upped their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the 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 transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’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 in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the company’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 approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of General Electric

Several institutional investors have recently made changes to their positions in the business. Walker Asset Management LLC grew its position in shares of General Electric by 1.7% during the first quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 70 shares in the last quarter. BKM Wealth Management LLC grew its position in shares of General Electric by 2.6% during the first quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after purchasing an additional 72 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in shares of General Electric by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 4,316 shares of the conglomerate’s stock worth $550,000 after purchasing an additional 74 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of General Electric by 1.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,377 shares of the conglomerate’s stock worth $814,000 after purchasing an additional 75 shares in the last quarter. Finally, Schnieders Capital Management LLC grew its position in shares of General Electric by 1.1% during the first quarter. Schnieders Capital Management LLC now owns 6,817 shares of the conglomerate’s stock worth $1,197,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a 50-day moving average of $161.50 and a 200-day moving average of $137.33. The stock has a market cap of $174.81 billion, a PE ratio of 52.36, a PEG ratio of 2.93 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Research analysts predict that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. 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.