General Electric (NYSE:GE) Trading 1.9% Higher – Here’s What Happened

General Electric (NYSE:GE) traded up 1.9% on Friday . The company traded as high as $171.97 and last traded at $171.75. 705,055 shares changed hands during trading, a decline of 70% from the average session volume of 2,364,866 shares. The stock had previously closed at $168.59.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GE shares. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Thursday. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Citigroup upped their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Stock Performance

The firm has a market cap of $186.57 billion, a P/E ratio of 30.30, a PEG ratio of 1.66 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average is $174.59 and its two-hundred day moving average is $173.00.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Studio Investment Management LLC raised its position in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric during the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in General Electric during the 3rd quarter valued at $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric in the 3rd quarter worth $28,000. Institutional investors own 74.77% of the company’s stock.

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.