General Electric (NYSE:GE) Stock Price Up 1.5% – Time to Buy?

Shares of General Electric (NYSE:GE) were up 1.5% on Wednesday . The stock traded as high as $171.49 and last traded at $171.49. Approximately 2,235,717 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 6,128,362 shares. The stock had previously closed at $169.02.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GE shares. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group increased their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $201.93.

General Electric Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a fifty day moving average of $177.10 and a two-hundred day moving average of $172.70. The stock has a market capitalization of $185.60 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. On average, equities analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend 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 related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of General Electric by 3.8% during the third quarter. Principal Financial Group Inc. now owns 1,323,553 shares of the conglomerate’s stock valued at $249,596,000 after acquiring an additional 48,543 shares during the period. SMART Wealth LLC acquired a new stake in shares of General Electric in the third quarter worth $354,000. Lord Abbett & CO. LLC acquired a new stake in General Electric during the 3rd quarter worth about $44,725,000. B. Riley Wealth Advisors Inc. grew its stake in General Electric by 6.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,655 shares of the conglomerate’s stock valued at $3,862,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Tyro Capital Management LLC increased its holdings in shares of General Electric by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 70,607 shares of the conglomerate’s stock valued at $13,315,000 after purchasing an additional 429 shares during the period. 74.77% of the stock is 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.