General Electric (NYSE:GE) Stock Price Up 1.2%

General Electric (NYSE:GE)’s stock price rose 1.2% on Thursday . The stock traded as high as $174.70 and last traded at $172.25. Approximately 2,177,059 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 7,088,466 shares. The stock had previously closed at $170.20.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. UBS Group increased their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Argus raised their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Wells Fargo & Company lifted their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $185.71.

General Electric Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock has a market capitalization of $173.79 billion, a PE ratio of 52.51, a P/E/G ratio of 1.70 and a beta of 1.21. The stock has a 50 day moving average of $162.83 and a two-hundred day moving average of $157.62.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts expect that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Activity at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several large investors have recently added to or reduced their stakes in the business. Criterion Capital Advisors LLC purchased a new position in shares of General Electric in the 4th quarter worth about $27,000. Capital Analysts LLC grew its stake in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in General Electric during the 2nd quarter valued at approximately $31,000. Bfsg LLC acquired a new stake in General Electric during the 4th quarter valued at approximately $32,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in General Electric during the 4th quarter valued at approximately $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.