General Electric (NYSE:GE) Trading 0.9% Higher – What’s Next?

Shares of General Electric (NYSE:GE) were up 0.9% on Thursday . The stock traded as high as $180.94 and last traded at $179.62. Approximately 1,298,745 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 6,179,957 shares. The stock had previously closed at $177.98.

Wall Street Analyst Weigh In

A number of analysts recently commented on GE shares. Deutsche Bank Aktiengesellschaft upped their price objective on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

The business has a 50 day moving average of $183.22 and a 200 day moving average of $171.10. The company has a market capitalization of $196.01 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade 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 owned by corporate insiders.

Institutional Investors Weigh In On General Electric

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tsfg LLC boosted its position in General Electric by 12.8% during the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC boosted its position in shares of General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD boosted its position in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. 74.77% of the stock is currently 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.