General Electric (NYSE:GE) Trading Up 1%

General Electric (NYSE:GEGet Free Report) shares rose 1% during trading on Tuesday . The company traded as high as $162.54 and last traded at $162.19. Approximately 1,196,339 shares traded hands during trading, a decline of 84% from the average daily volume of 7,351,605 shares. The stock had previously closed at $160.54.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. Citigroup raised their price target on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Vertical Research assumed coverage on shares of General Electric in a research note on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.27.

Check Out Our Latest Research Report on GE

General Electric Price Performance

The company’s fifty day moving average is $161.83 and its two-hundred day moving average is $150.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $178.92 billion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.

General Electric (NYSE:GEGet Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. Equities research analysts forecast that General Electric will post 3.99 EPS for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, 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 accessible through this link. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of General Electric by 122.6% during the first quarter. EverSource Wealth Advisors LLC now owns 4,988 shares of the conglomerate’s stock worth $807,000 after buying an additional 2,747 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of General Electric by 37.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 463,645 shares of the conglomerate’s stock worth $83,388,000 after purchasing an additional 126,523 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of General Electric in the 1st quarter valued at about $131,000. Cetera Advisor Networks LLC lifted its position in shares of General Electric by 30.1% during the first quarter. Cetera Advisor Networks LLC now owns 131,590 shares of the conglomerate’s stock worth $23,098,000 after purchasing an additional 30,464 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in General Electric by 51.3% in the first quarter. Cetera Advisors LLC now owns 67,249 shares of the conglomerate’s stock worth $11,804,000 after purchasing an additional 22,815 shares in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

About General Electric

(Get Free Report)

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.

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