General Electric (NYSE:GE) Stock Price Up 0.5%

General Electric (NYSE:GE)’s share price shot up 0.5% during mid-day trading on Monday . The stock traded as high as $160.60 and last traded at $159.82. 825,560 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 7,094,389 shares. The stock had previously closed at $159.01.

Wall Street Analyst Weigh In

Several research firms have issued reports on GE. The Goldman Sachs Group lifted their price target on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com began coverage on shares of General Electric in a research report on Monday, April 29th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Bank of America lifted their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Argus lifted their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $181.93.

General Electric Stock Down 0.1 %

The business’s 50 day moving average is $162.59 and its 200 day moving average is $154.17. The stock has a market cap of $173.97 billion, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Equities analysts expect that General Electric will post 4.02 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Buying and Selling at General Electric

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

Institutional Investors Weigh In On General Electric

Several institutional investors and hedge funds have recently modified their holdings of the business. Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter worth $34,000. Halpern Financial Inc. raised its holdings in General Electric by 968.4% in the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 184 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in General Electric in the 1st quarter worth $37,000. Criterion Capital Advisors LLC bought a new position in General Electric in the 4th quarter worth $27,000. Finally, CGC Financial Services LLC raised its holdings in General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.