General Electric (NYSE:GE – Get Free Report)’s stock price rose 0.1% during mid-day trading on Monday . The company traded as high as $161.42 and last traded at $160.01. Approximately 1,240,988 shares were traded during trading, a decline of 84% from the average daily volume of 7,633,341 shares. The stock had previously closed at $159.89.
Analyst Ratings Changes
Several equities analysts have issued reports on GE shares. Argus increased their price objective on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup lifted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada raised their target price on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price target for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $174.21.
General Electric Price Performance
The stock has a 50-day simple moving average of $162.89 and a 200 day simple moving average of $142.21. The company has a market cap of $174.33 billion, a PE ratio of 52.51, a P/E/G ratio of 2.82 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. 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 net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the firm earned $0.27 EPS. General Electric’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that General Electric will post 3.98 EPS for the current year.
General Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is currently 36.72%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors raised its stake in shares of General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Norges Bank purchased a new stake in General Electric during the 4th quarter worth about $1,193,159,000. Capital International Investors raised its position in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Canada Pension Plan Investment Board raised its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of General Electric in the 4th quarter valued at about $520,488,000. 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.