General Electric (NYSE:GE) Trading 1.3% Higher

Shares of General Electric (NYSE:GEGet Free Report) shot up 1.3% on Monday . The stock traded as high as $169.15 and last traded at $167.33. 5,500,200 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 7,598,278 shares. The stock had previously closed at $165.26.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GE. Wells Fargo & Company boosted their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Oppenheimer reissued a “market perform” rating on shares of General Electric in a research report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price objective on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Royal Bank of Canada boosted their price objective on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Argus boosted their target price on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.00.

Read Our Latest Report on GE

General Electric Trading Up 0.7 %

The firm has a fifty day simple moving average of $162.21 and a two-hundred day simple moving average of $144.79. The stock has a market cap of $184.47 billion, a PE ratio of 55.26, a PEG ratio of 1.85 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GEGet Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were given a $0.28 dividend. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in General Electric by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after buying an additional 550,996 shares during the period. Capital International Investors raised its stake in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Capital World Investors raised its stake in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Northern Trust Corp raised its stake in shares of General Electric by 4.0% during the third quarter. Northern Trust Corp now owns 10,588,433 shares of the conglomerate’s stock valued at $1,170,551,000 after acquiring an additional 410,061 shares during the last quarter. Finally, Norges Bank bought a new position in shares of General Electric during the fourth quarter valued at about $1,193,159,000. 74.77% of the stock is currently 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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