General Electric (NYSE:GE) Trading Up 0% on Analyst Upgrade

General Electric (NYSE:GE) shares shot up 0% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $165.00 to $192.00. Wells Fargo & Company currently has an overweight rating on the stock. General Electric traded as high as $166.26 and last traded at $164.50. 1,619,532 shares were traded during trading, a decline of 80% from the average session volume of 7,999,594 shares. The stock had previously closed at $164.49.

GE has been the topic of several other reports. StockNews.com assumed coverage on General Electric in a research report on Monday. They issued a “hold” rating on the stock. Jefferies Financial Group increased their price target on shares of General Electric from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. Vertical Research assumed coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average target price of $172.29.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following 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. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Electric

Large investors have recently added to or reduced their stakes in the stock. Vest Financial LLC bought a new stake in General Electric during the 1st quarter valued at $513,000. Caprock Group LLC increased its stake in shares of General Electric by 0.4% during the first quarter. Caprock Group LLC now owns 54,038 shares of the conglomerate’s stock valued at $9,485,000 after buying an additional 191 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of General Electric by 11.4% in the first quarter. Perigon Wealth Management LLC now owns 12,568 shares of the conglomerate’s stock valued at $2,206,000 after acquiring an additional 1,283 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of General Electric by 9.3% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,582 shares of the conglomerate’s stock valued at $278,000 after acquiring an additional 134 shares in the last quarter. Finally, Renaissance Investment Group LLC purchased a new stake in General Electric in the first quarter worth about $275,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

General Electric Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market capitalization of $178.66 billion, a P/E ratio of 53.93, a PEG ratio of 2.90 and a beta of 1.29. The company’s fifty day simple moving average is $161.02 and its 200-day simple moving average is $136.80.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. General Electric’s revenue was up 11.1% on a year-over-year basis. Research analysts predict that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.69%. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio (DPR) is 36.72%.

About General Electric

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.