General Electric (NYSE:GE) Stock Price Up 5.9% After Earnings Beat

General Electric (NYSE:GE) rose 5.9% on Tuesday following a better than expected earnings announcement. The company traded as high as $160.02 and last traded at $159.09. Approximately 6,384,708 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 7,956,995 shares. The stock had previously closed at $150.19.

The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 13.38%.

Analysts Set New Price Targets

A number of research firms have recently commented on GE. Barclays dropped their target price on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Vertical Research began coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price on the stock. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. dropped their target price on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.07.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Electric

Institutional investors have recently modified their holdings of the business. Charter Oak Capital Management LLC acquired a new position in shares of General Electric during the first quarter worth $304,000. Busey Bank grew its stake in shares of General Electric by 3.1% during the first quarter. Busey Bank now owns 12,461 shares of the conglomerate’s stock worth $2,187,000 after purchasing an additional 370 shares in the last quarter. Milestone Asset Management LLC acquired a new position in shares of General Electric during the first quarter worth $347,000. Global Retirement Partners LLC grew its stake in shares of General Electric by 3.9% during the first quarter. Global Retirement Partners LLC now owns 16,855 shares of the conglomerate’s stock worth $2,959,000 after purchasing an additional 640 shares in the last quarter. Finally, Arbor Investment Advisors LLC acquired a new position in shares of General Electric during the first quarter worth $257,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 8.3 %

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.18 and a quick ratio of 0.85. The stock has a market cap of $177.79 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.92 and a beta of 1.29. The business’s 50 day moving average is $159.94 and its 200 day moving average is $135.39.

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.