General Electric (NYSE:GE - Get Free Report)'s stock price was up 0.4% on Tuesday . The stock traded as high as $173.16 and last traded at $171.99. Approximately 1,162,476 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 6,105,483 shares. The stock had previously closed at $171.32.
Wall Street Analyst Weigh In
Several analysts recently weighed in on GE shares. 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 report on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a research 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 stock an "outperform" rating in a research report on Monday, October 14th. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.93.
Check Out Our Latest Stock Report on GE
General Electric Price Performance
The company's 50 day moving average price is $181.76 and its two-hundred day moving average price is $172.48. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $185.42 billion, a P/E ratio of 30.23, a PEG ratio of 1.73 and a beta of 1.17.
General Electric (NYSE:GE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that General Electric will post 4.24 earnings per share for the current year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric's payout ratio is 19.68%.
Insiders Place Their Bets
In other General Electric news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 148,857 shares of the company's stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred 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 sale, 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 company insiders.
Institutional Investors Weigh In On General Electric
A number of institutional investors have recently added to or reduced their stakes in the stock. Lantz Financial LLC grew its holdings in shares of General Electric by 1.9% in the second quarter. Lantz Financial LLC now owns 3,718 shares of the conglomerate's stock valued at $591,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group grew its holdings in shares of General Electric by 8.8% in the second quarter. Cooper Financial Group now owns 1,454 shares of the conglomerate's stock valued at $231,000 after purchasing an additional 117 shares in the last quarter. Diversified Trust Co grew its holdings in shares of General Electric by 5.0% in the second quarter. Diversified Trust Co now owns 20,761 shares of the conglomerate's stock valued at $3,300,000 after purchasing an additional 997 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of General Electric in the second quarter valued at $200,000. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of General Electric by 2.6% in the second quarter. Great Valley Advisor Group Inc. now owns 10,707 shares of the conglomerate's stock valued at $1,702,000 after purchasing an additional 275 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other 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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