General Electric (NYSE:GE) Shares Up 0.5%

General Electric (NYSE:GE)’s share price shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $187.64 and last traded at $187.27. 663,927 shares were traded during trading, a decline of 90% from the average session volume of 6,525,828 shares. The stock had previously closed at $186.30.

Analyst Ratings Changes

Several brokerages have recently issued reports on GE. Wells Fargo & Company upped their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays upped their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Sanford C. Bernstein began coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.36.

General Electric Stock Up 0.4 %

The stock has a market capitalization of $204.81 billion, a P/E ratio of 61.40, a P/E/G ratio of 1.87 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $172.31 and its 200 day simple moving average is $169.45.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Newport Trust Company LLC acquired a new position in General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors boosted its position in General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Capital International Investors grew its stake in General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric in the second quarter worth $580,200,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.