General Electric (NYSE:GE) Stock Price Up 1.1% - Here's Why

General Electric (NYSE:GE - Get Free Report)'s stock price was up 1.1% on Tuesday . The stock traded as high as $206.80 and last traded at $207.44. Approximately 726,447 shares traded hands during trading, a decline of 87% from the average daily volume of 5,649,015 shares. The stock had previously closed at $205.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. Wells Fargo & Company lifted their target price on shares of General Electric from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Bank of America lifted their target price on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.73.

Remove Ads

General Electric Price Performance

The firm has a market cap of $223.91 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The stock's fifty day moving average price is $182.00 and its 200-day moving average price is $178.98. 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 released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) 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%. As a group, equities analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.36 per share. This is a positive change from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.69%. General Electric's dividend payout ratio is presently 18.70%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GE. Truvestments Capital LLC grew its position in shares of General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate's stock worth $39,000 after acquiring an additional 49 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of General Electric by 17.6% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate's stock worth $56,000 after purchasing an additional 50 shares during the period. Ballast Advisors LLC lifted its holdings in shares of General Electric by 2.5% during the fourth quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate's stock worth $349,000 after purchasing an additional 51 shares during the period. Blue Barn Wealth LLC lifted its holdings in shares of General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate's stock worth $245,000 after purchasing an additional 54 shares during the period. Finally, Tsfg LLC lifted its holdings in shares of General Electric by 12.8% during the third quarter. Tsfg LLC now owns 485 shares of the conglomerate's stock worth $92,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 74.77% of the company's stock.

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.