General Electric (NYSE:GE – Get Free Report) was up 1.2% during trading on Thursday . The company traded as high as $174.70 and last traded at $172.25. Approximately 2,177,059 shares were traded 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 Analyst Weigh In
A number of equities research analysts recently commented on GE shares. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Bank of America upped their target price on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Vertical Research started coverage on General Electric in a research report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.71.
General Electric Trading Down 0.5 %
The company has a 50 day moving average of $162.88 and a 200 day moving average of $157.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a market capitalization of $183.55 billion, a price-to-earnings ratio of 56.48, a P/E/G ratio of 1.68 and a beta of 1.21.
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that General Electric will post 4.15 EPS for the current fiscal year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.
Insider Buying and Selling at General Electric
In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.
Hedge Funds Weigh In On General Electric
A number of hedge funds have recently modified their holdings of the business. Macroview Investment Management LLC grew its holdings in shares of General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. New England Research & Management Inc. boosted its holdings in General Electric by 2.2% during the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the period. Choate Investment Advisors boosted its holdings in General Electric by 0.4% during the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after acquiring an additional 65 shares during the period. Checchi Capital Advisers LLC boosted its holdings in General Electric by 1.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,770 shares of the conglomerate’s stock valued at $1,076,000 after acquiring an additional 67 shares during the period. Finally, Great Diamond Partners LLC boosted its holdings in General Electric by 4.7% during the 2nd quarter. Great Diamond Partners LLC now owns 1,499 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 67 shares during the period. 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.