General Electric (NYSE:GE) Stock Price Up 1.4% After Analyst Upgrade

General Electric (NYSE:GE) was up 1.4% on Tuesday after Barclays raised their price target on the stock from $175.00 to $200.00. Barclays currently has an overweight rating on the stock. General Electric traded as high as $174.73 and last traded at $172.19. Approximately 1,516,330 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 7,110,950 shares. The stock had previously closed at $169.87.

Several other brokerages have also recently weighed in on GE. Vertical Research began coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target for the company. Royal Bank of Canada upped their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.71.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $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 corporate insiders.

Hedge Funds Weigh In On General Electric

Large investors have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in General Electric by 4.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 121,778 shares of the conglomerate’s stock valued at $19,359,000 after buying an additional 4,739 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of General Electric in the second quarter worth $375,000. Boston Financial Mangement LLC bought a new position in shares of General Electric during the second quarter valued at $341,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of General Electric by 46.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 93,092 shares of the conglomerate’s stock valued at $14,799,000 after acquiring an additional 29,586 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of General Electric in the 2nd quarter worth about $509,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Trading Up 1.4 %

The stock’s 50 day moving average is $162.57 and its 200-day moving average is $156.97. The company has a market cap of $186.71 billion, a P/E ratio of 56.46, a PEG ratio of 1.71 and a beta of 1.22. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.13 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s dividend payout ratio is 36.72%.

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.