Shares of General Electric (NYSE:GE - Get Free Report) rose 2.7% on Monday . The company traded as high as $186.83 and last traded at $186.66. Approximately 1,451,485 shares changed hands during trading, a decline of 73% from the average daily volume of 5,457,556 shares. The stock had previously closed at $181.67.
Analysts Set New Price Targets
A number of analysts have recently issued reports on GE shares. Wells Fargo & Company lowered their price objective on General Electric from $250.00 to $203.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted their target price on General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Northcoast Research upgraded General Electric from a "neutral" rating to a "buy" rating and set a $205.00 target price for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, General Electric currently has an average rating of "Moderate Buy" and an average target price of $212.73.
Check Out Our Latest Stock Report on GE
General Electric Price Performance
The company has a fifty day moving average price of $198.36 and a two-hundred day moving average price of $186.61. The firm has a market cap of $200.91 billion, a P/E ratio of 31.25, a PEG ratio of 2.59 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.
General Electric (NYSE:GE - Get Free Report) last released its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts anticipate that General Electric will post 5.4 earnings per share for the current year.
General Electric Increases Dividend
The company also recently announced 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from General Electric's previous quarterly dividend of $0.28. General Electric's dividend payout ratio (DPR) is 24.04%.
Hedge Funds Weigh In On General Electric
Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of General Electric in the third quarter worth $3,400,000. Westside Investment Management Inc. grew its holdings in shares of General Electric by 6.0% during the 3rd quarter. Westside Investment Management Inc. now owns 1,245 shares of the conglomerate's stock valued at $235,000 after purchasing an additional 70 shares during the last quarter. Diamant Asset Management Inc. increased its holdings in shares of General Electric by 2.7% during the third quarter. Diamant Asset Management Inc. now owns 6,098 shares of the conglomerate's stock worth $1,150,000 after buying an additional 158 shares in the last quarter. Morse Asset Management Inc boosted its stake in shares of General Electric by 30.2% during the third quarter. Morse Asset Management Inc now owns 18,616 shares of the conglomerate's stock valued at $3,511,000 after purchasing an additional 4,320 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in General Electric by 1.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,240 shares of the conglomerate's stock valued at $2,308,000 after acquiring an additional 232 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider General Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Electric wasn't on the list.
While General Electric currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
