General Electric (NYSE:GE) Shares Up 1.5%

General Electric (NYSE:GE) shot up 1.5% during trading on Wednesday . The stock traded as high as $164.49 and last traded at $163.94. 951,009 shares were traded during trading, a decline of 87% from the average session volume of 7,258,286 shares. The stock had previously closed at $161.45.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays cut their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. The Goldman Sachs Group lifted their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com initiated coverage on shares of General Electric in a report on Monday, April 29th. They issued a “hold” rating for the company. Finally, Argus increased their target price on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.

General Electric Stock Performance

The stock has a market capitalization of $178.42 billion, a P/E ratio of 53.44, a PEG ratio of 1.72 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $162.59 and a 200 day moving average of $152.20.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping 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 the consensus estimate of $15.25 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts anticipate that General Electric will post 4.02 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors 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 0.69%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is currently 36.72%.

Insider Transactions at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Electric

Large investors have recently modified their holdings of the stock. Teza Capital Management LLC acquired a new stake in General Electric in the third quarter worth about $205,000. Axxcess Wealth Management LLC lifted its holdings in General Electric by 5.7% in the third quarter. Axxcess Wealth Management LLC now owns 4,634 shares of the conglomerate’s stock valued at $512,000 after buying an additional 249 shares during the period. Sei Investments Co. lifted its stake in shares of General Electric by 3.0% in the 3rd quarter. Sei Investments Co. now owns 349,281 shares of the conglomerate’s stock valued at $38,611,000 after purchasing an additional 10,322 shares during the period. Schroder Investment Management Group boosted its position in shares of General Electric by 2.0% in the 3rd quarter. Schroder Investment Management Group now owns 351,115 shares of the conglomerate’s stock worth $38,816,000 after purchasing an additional 6,795 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of General Electric by 4.0% during the third quarter. Royal London Asset Management Ltd. now owns 456,572 shares of the conglomerate’s stock worth $50,485,000 after purchasing an additional 17,638 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.