General Electric (NYSE:GE) Hits New 12-Month High - Still a Buy?

General Electric (NYSE:GE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $212.19 and last traded at $209.94, with a volume of 4395356 shares traded. The stock had previously closed at $208.27.

Analyst Upgrades and Downgrades

GE has been the subject of several analyst reports. Redburn Atlantic initiated coverage on shares of General Electric in a research note on Tuesday. They issued a "buy" rating and a $250.00 target price for the company. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Finally, Bank of America upped their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.31.

General Electric Stock Down 4.2 %

The stock has a market capitalization of $214.55 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.62 and a beta of 1.22. The firm's fifty day moving average is $186.57 and its 200-day moving average is $180.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, sell-side analysts predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio is 24.04%.

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently modified their holdings of GE. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the third quarter worth $25,000. New Age Alpha Advisors LLC increased its holdings in shares of General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after acquiring an additional 84 shares during the period. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the 3rd quarter worth about $27,000. Hager Investment Management Services LLC acquired a new stake in shares of General Electric in the 4th quarter worth about $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the 3rd quarter worth about $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.