General Electric (NYSE:GE - Get Free Report) shares shot up 1% on Tuesday . The company traded as high as $170.90 and last traded at $170.70. 637,784 shares traded hands during trading, a decline of 90% from the average session volume of 6,121,309 shares. The stock had previously closed at $169.02.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on General Electric from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of General Electric from $198.00 to $216.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.93.
Read Our Latest Analysis on GE
General Electric Price Performance
The stock has a market capitalization of $185.60 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business's 50 day moving average price is $177.49 and its 200 day moving average price is $172.63.
General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 earnings per share. Sell-side analysts forecast that General Electric will post 4.24 EPS for the current year.
General Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given 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 0.65%. General Electric's payout ratio is currently 19.68%.
Insider Activity at General Electric
In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 148,857 shares of the company's stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company's stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
Institutional Trading of General Electric
Large investors have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the period. Geode Capital Management LLC grew its stake in shares of General Electric by 0.7% during the third quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate's stock valued at $4,244,676,000 after buying an additional 156,272 shares during the last quarter. Newport Trust Company LLC purchased a new stake in shares of General Electric in the second quarter worth approximately $2,613,332,000. Legal & General Group Plc lifted its stake in shares of General Electric by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate's stock worth $1,336,257,000 after acquiring an additional 459,201 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock worth $1,465,598,000 after acquiring an additional 3,719,894 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
General Electric Company Profile
(
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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