General Electric (NYSE:GE - Get Free Report)'s share price traded up 4% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $188.00 and last traded at $185.55. 3,065,577 shares were traded during mid-day trading, a decline of 44% from the average session volume of 5,441,606 shares. The stock had previously closed at $178.35.
The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.20. General Electric had a net margin of 14.31% and a return on equity of 22.19%.
General Electric Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is currently 24.04%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GE. Bank of America increased their price objective on General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. 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. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Citigroup cut their price target on shares of General Electric from $235.00 to $227.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One analyst has 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 company presently has an average rating of "Moderate Buy" and an average price target of $213.33.
Get Our Latest Analysis on General Electric
Institutional Investors Weigh In On General Electric
A number of institutional investors have recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC raised its position in General Electric by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate's stock worth $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new position in General Electric during the 4th quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of General Electric in the 4th quarter valued at $28,000. Putney Financial Group LLC acquired a new position in General Electric in the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Electric in the 4th quarter worth about $29,000. 74.77% of the stock is owned by institutional investors.
General Electric Price Performance
The business has a 50 day moving average price of $195.49 and a 200-day moving average price of $186.46. The company has a market capitalization of $198.49 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.
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.
Further Reading
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