General Electric (NYSE:GE) Trading 0.9% Higher – Here’s What Happened

General Electric (NYSE:GE) was up 0.9% on Thursday . The company traded as high as $180.94 and last traded at $179.62. Approximately 1,298,745 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 6,179,957 shares. The stock had previously closed at $177.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GE shares. Wells Fargo & Company upped their price target on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada lowered their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Up 1.1 %

The firm has a market cap of $194.69 billion, a P/E ratio of 31.57, a PEG ratio of 1.75 and a beta of 1.19. 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’s 50 day moving average is $182.98 and its two-hundred day moving average is $170.96.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio is 19.68%.

Insiders Place Their Bets

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in General Electric during the 3rd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.