General Electric (NYSE:GE - Get Free Report)'s stock price rose 1.1% during trading on Wednesday . The stock traded as high as $156.40 and last traded at $156.23. Approximately 1,793,298 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 6,666,168 shares. The stock had previously closed at $154.49.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on General Electric from $180.00 to $160.00 and set an "outperform" rating on the stock in a research note on Thursday, April 4th. Bank of America cut their price objective on General Electric from $175.00 to $165.00 and set a "buy" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on General Electric from $210.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on shares of General Electric in a report on Tuesday. They issued a "buy" rating and a $190.00 price target on the stock. Finally, TD Cowen upgraded shares of General Electric from a "hold" rating to a "buy" rating and raised their price objective for the stock from $175.00 to $180.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, General Electric has a consensus rating of "Moderate Buy" and an average target price of $156.67.
View Our Latest Stock Report on GE
General Electric Trading Up 1.4 %
The firm has a 50-day simple moving average of $156.53 and a 200-day simple moving average of $132.23. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock has a market cap of $171.22 billion, a PE ratio of 18.72, a P/E/G ratio of 2.52 and a beta of 1.29.
General Electric (NYSE:GE - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter last year, the company earned $1.24 EPS. The firm's revenue was up 15.4% compared to the same quarter last year. Equities analysts forecast that General Electric will post 4.61 earnings per share for the current year.
General Electric Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.72%. This is an increase from General Electric's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. General Electric's dividend payout ratio (DPR) is presently 3.82%.
Insider Transactions at General Electric
In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company's stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company's stock, valued at approximately $8,153,863.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.
Hedge Funds Weigh In On General Electric
Large investors have recently modified their holdings of the company. Inscription Capital LLC boosted its position in General Electric by 93.5% during the first quarter. Inscription Capital LLC now owns 4,824 shares of the conglomerate's stock valued at $847,000 after buying an additional 2,331 shares during the period. Park Avenue Securities LLC lifted its stake in shares of General Electric by 32.6% in the 1st quarter. Park Avenue Securities LLC now owns 44,195 shares of the conglomerate's stock valued at $7,758,000 after acquiring an additional 10,877 shares during the last quarter. Apella Capital LLC lifted its stake in shares of General Electric by 3.9% in the 1st quarter. Apella Capital LLC now owns 2,949 shares of the conglomerate's stock valued at $518,000 after acquiring an additional 112 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in General Electric during the 1st quarter valued at about $202,000. Finally, American National Bank grew its position in General Electric by 57.1% during the 1st quarter. American National Bank now owns 6,381 shares of the conglomerate's stock worth $1,120,000 after acquiring an additional 2,318 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.
General Electric Company Profile
(
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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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