General Electric (NYSE:GE) Shares Up 0.8%

General Electric (NYSE:GE)’s stock price traded up 0.8% on Wednesday . The stock traded as high as $165.54 and last traded at $164.38. 671,260 shares changed hands during trading, a decline of 91% from the average session volume of 7,145,432 shares. The stock had previously closed at $163.13.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GE shares. Bank of America lifted their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Argus increased their price objective on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. TD Cowen upgraded shares of General Electric from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Trading Up 1.5 %

The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm has a market cap of $181.18 billion, a PE ratio of 53.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.21. The company has a 50-day simple moving average of $162.59 and a 200 day simple moving average of $153.44.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 4.02 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after acquiring an additional 550,996 shares during the last quarter. Capital International Investors lifted its stake in General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Capital World Investors boosted its position in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the period. Norges Bank purchased a new position in shares of General Electric during the fourth quarter worth $1,193,159,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after buying an additional 4,907,530 shares in the last quarter. Hedge funds and other institutional investors 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.