General Electric (NYSE:GE) Stock Price Up 0.8%

General Electric (NYSE:GE)’s share price traded up 0.8% during mid-day trading on Thursday . The company traded as high as $158.00 and last traded at $156.92. 1,230,728 shares traded hands during trading, a decline of 84% from the average session volume of 7,914,947 shares. The stock had previously closed at $155.67.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Vertical Research began coverage on shares of General Electric in a research note on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Barclays cut their price objective on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company cut their price objective on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Price Performance

The stock’s fifty day moving average is $158.87 and its 200-day moving average is $133.96. The stock has a market capitalization of $168.47 billion, a PE ratio of 18.42, a P/E/G ratio of 3.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. As a group, equities analysts predict that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.73%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. General Electric’s dividend payout ratio (DPR) is presently 13.38%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated 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 $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

Hedge funds and other institutional investors have recently modified their holdings of the business. Halpern Financial Inc. lifted its stake in shares of General Electric by 968.4% in the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Aspect Partners LLC acquired a new stake in General Electric during the fourth quarter worth about $25,000. Criterion Capital Advisors LLC acquired a new stake in General Electric during the fourth quarter worth about $27,000. Dagco Inc. acquired a new stake in General Electric during the fourth quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in General Electric during the fourth quarter worth about $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.