General Electric (NYSE:GE) Sets New 12-Month High – Still a Buy?

General Electric (NYSE:GE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $212.19 and last traded at $209.94, with a volume of 4395356 shares. The stock had previously closed at $208.27.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 27th. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their target price 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, January 2nd. Northcoast Research initiated coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm’s fifty day simple moving average is $184.18 and its 200-day simple moving average is $180.02. The stock has a market cap of $225.33 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities research analysts expect that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is an increase from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 18.70%.

Institutional Trading of General Electric

Several large investors have recently modified their holdings of GE. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric in the 3rd quarter valued at $25,000. New Age Alpha Advisors LLC grew its position in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 84 shares during the period. O Brien Wealth Partners LLC acquired a new stake in General Electric in the 3rd quarter valued at $27,000. Finally, Hager Investment Management Services LLC acquired a new stake in General Electric in the 4th quarter valued at $27,000. Institutional investors and hedge funds 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.