General Electric (NYSE:GE) Sets New 52-Week High Following Analyst Upgrade

General Electric (NYSE:GE) shares reached a new 52-week high on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $210.00 to $212.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. General Electric traded as high as $189.15 and last traded at $188.85, with a volume of 313108 shares. The stock had previously closed at $187.43.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein initiated coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.36.

Institutional Trading of General Electric

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aveo Capital Partners LLC acquired a new position in General Electric in the 4th quarter valued at $203,000. Gryphon Financial Partners LLC increased its stake in shares of General Electric by 57.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the period. SageView Advisory Group LLC lifted its position in shares of General Electric by 38.5% during the 4th quarter. SageView Advisory Group LLC now owns 7,730 shares of the conglomerate’s stock worth $1,035,000 after purchasing an additional 2,147 shares during the last quarter. Advisory Services Network LLC boosted its stake in General Electric by 36.8% during the 4th quarter. Advisory Services Network LLC now owns 37,172 shares of the conglomerate’s stock valued at $4,744,000 after purchasing an additional 9,994 shares during the period. Finally, Johnson Financial Group Inc. grew its holdings in General Electric by 303.3% in the 4th quarter. Johnson Financial Group Inc. now owns 2,674 shares of the conglomerate’s stock valued at $341,000 after buying an additional 2,011 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Trading Up 0.7 %

The company has a market capitalization of $206.60 billion, a P/E ratio of 61.45, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a 50-day simple moving average of $168.69 and a 200 day simple moving average of $170.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) 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.