General Electric (NYSE:GE) Stock Price Up 1.3%

General Electric (NYSE:GE) traded up 1.3% on Friday . The stock traded as high as $172.04 and last traded at $171.92. 989,875 shares were traded during trading, a decline of 85% from the average session volume of 6,610,510 shares. The stock had previously closed at $169.70.

Wall Street Analyst Weigh In

GE has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped 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. Jefferies Financial Group lifted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 5.1 %

The firm has a market cap of $195.15 billion, a price-to-earnings ratio of 58.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $166.57 and a 200-day moving average price of $171.27.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the company earned $0.68 earnings per share. General Electric’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s dividend payout ratio is currently 36.72%.

Institutional Trading of General Electric

Several large investors have recently modified their holdings of the business. Aveo Capital Partners LLC bought a new stake in shares of General Electric in the fourth quarter worth $203,000. Gryphon Financial Partners LLC increased its position in shares of General Electric by 57.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $477,000. Independent Advisor Alliance lifted its position in shares of General Electric by 28.6% during the fourth quarter. Independent Advisor Alliance now owns 18,725 shares of the conglomerate’s stock worth $2,390,000 after purchasing an additional 4,169 shares during the last quarter. Finally, ING Groep NV increased its holdings in General Electric by 24.6% in the fourth quarter. ING Groep NV now owns 205,303 shares of the conglomerate’s stock valued at $26,203,000 after buying an additional 40,573 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.