General Electric (NYSE:GE) Stock Price Up 1.7%

General Electric (NYSE:GE)’s stock price rose 1.7% during trading on Monday . The company traded as high as $163.78 and last traded at $163.15. Approximately 740,593 shares were traded during trading, a decline of 90% from the average daily volume of 7,199,492 shares. The stock had previously closed at $160.50.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of analyst reports. UBS Group raised their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. raised their price target on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Citigroup raised their price target on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group raised their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, The Goldman Sachs Group raised their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.93.

General Electric Price Performance

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 company’s fifty day moving average is $162.59 and its two-hundred day moving average is $153.44. The stock has a market cap of $181.38 billion, a price-to-earnings ratio of 53.90, a P/E/G ratio of 1.73 and a beta of 1.21.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts predict that General Electric will post 4.02 earnings per share for the current year.

General Electric Announces Dividend

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

Insiders Place Their Bets

In other General Electric 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 value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors lifted its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the last quarter. Norges Bank purchased a new stake in General Electric in the fourth quarter valued at $1,193,159,000. Capital International Investors raised its holdings in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings 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 during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of General Electric in the fourth quarter valued at about $520,488,000. 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.