General Electric (NYSE:GE) Shares Up 3.6% After Strong Earnings

General Electric (NYSE:GE - Get Free Report)'s stock price shot up 3.6% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $197.03 and last traded at $196.04. 2,488,972 shares changed hands during trading, a decline of 54% from the average session volume of 5,460,905 shares. The stock had previously closed at $189.18.

The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.20. General Electric had a net margin of 14.31% and a return on equity of 22.19%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.06 billion.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase 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 0.73%. General Electric's dividend payout ratio (DPR) is 24.04%.

Analyst Ratings Changes

Several equities research analysts recently commented on GE shares. Northcoast Research raised General Electric from a "neutral" rating to a "buy" rating and set a $205.00 price target for the company in a research note on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of General Electric in a report on Wednesday, January 22nd. Bank of America upped their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Citigroup cut their target price on General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. upped their price target on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $212.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New Age Alpha Advisors LLC raised its holdings in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the 4th quarter valued at about $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in General Electric in the fourth quarter valued at about $28,000. Putney Financial Group LLC bought a new position in General Electric during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Electric during the fourth quarter worth about $29,000. Institutional investors own 74.77% of the company's stock.

General Electric Stock Up 3.6 %

The company has a market capitalization of $210.41 billion, a price-to-earnings ratio of 32.73, a P/E/G ratio of 2.59 and a beta of 1.04. The business has a fifty day simple moving average of $195.11 and a two-hundred day simple moving average of $186.48. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

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.

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