Shares of General Electric (NYSE:GE - Get Free Report) shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $166.63 and last traded at $166.09. 1,589,367 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 6,112,062 shares. The stock had previously closed at $165.80.
Wall Street Analyst Weigh In
Several brokerages recently commented on GE. UBS Group raised their target price on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their target price on shares of General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of General Electric from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $201.93.
View Our Latest Report on General Electric
General Electric Trading Down 3.5 %
The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm's 50 day moving average is $179.47 and its two-hundred day moving average is $172.52. The stock has a market cap of $173.11 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17.
General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that General Electric will post 4.24 EPS for the current year.
General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric's dividend payout ratio (DPR) is presently 19.68%.
Insider Activity at General Electric
In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
Institutional Trading of General Electric
Hedge funds and other institutional investors have recently modified their holdings of the company. Tsfg LLC boosted its position in shares of General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate's stock valued at $92,000 after purchasing an additional 55 shares during the period. Strategic Advisors LLC raised its stake in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate's stock valued at $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate's stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Allegheny Financial Group LTD grew its stake in General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate's stock valued at $714,000 after acquiring an additional 61 shares in the last quarter. Finally, Meridian Management Co. grew its stake in General Electric by 1.2% during the 3rd quarter. Meridian Management Co. now owns 5,153 shares of the conglomerate's stock valued at $972,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 74.77% of the company's stock.
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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