General Electric (NYSE:GE) Stock Price Up 4% Following Strong Earnings

General Electric (NYSE:GE)’s share price was up 4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $188.00 and last traded at $185.55. 3,065,577 shares traded hands 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. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.06 billion. General Electric had a return on equity of 22.19% and a net margin of 14.31%.

General Electric Increases Dividend

The firm 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on General Electric from $203.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Redburn Atlantic started coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Hedge Funds Weigh In On General Electric

Large investors have recently modified their holdings of the stock. Truvestments Capital LLC raised its stake in General Electric by 26.2% during the fourth quarter. Truvestments Capital LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after buying an additional 49 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of General Electric by 17.6% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 334 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 50 shares during the last quarter. Ballast Advisors LLC raised its position in shares of General Electric by 2.5% during the 4th quarter. Ballast Advisors LLC now owns 2,093 shares of the conglomerate’s stock valued at $349,000 after acquiring an additional 51 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in General Electric by 3.8% during the fourth quarter. Blue Barn Wealth LLC now owns 1,466 shares of the conglomerate’s stock worth $245,000 after purchasing an additional 54 shares during the last quarter. Finally, First Heartland Consultants Inc. boosted its holdings in General Electric by 1.2% in the fourth quarter. First Heartland Consultants Inc. now owns 4,729 shares of the conglomerate’s stock worth $789,000 after purchasing an additional 54 shares during the period. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 6.2 %

The stock has a market cap of $203.38 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. The firm’s 50 day simple moving average is $195.11 and its two-hundred day simple moving average is $186.48. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric Company Profile

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.