General Electric (NYSE:GE) Stock Price Up 1.1% on Analyst Upgrade

General Electric (NYSE:GE) rose 1.1% during trading on Monday after Sanford C. Bernstein raised their price target on the stock from $201.00 to $225.00. Sanford C. Bernstein currently has an outperform rating on the stock. General Electric traded as high as $193.93 and last traded at $193.27. Approximately 892,447 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 6,387,553 shares. The stock had previously closed at $191.16.

Several other analysts have also recently weighed in on GE. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.86.

Hedge Funds Weigh In On General Electric

Institutional investors have recently modified their holdings of the stock. Studio Investment Management LLC raised its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric in the 2nd quarter valued at about $31,000. Richardson Financial Services Inc. purchased a new position in shares of General Electric in the 1st quarter valued at about $34,000. Financial Connections Group Inc. purchased a new position in shares of General Electric in the 2nd quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of General Electric in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a 50 day moving average of $176.30 and a two-hundred day moving average of $166.63. The stock has a market cap of $210.85 billion, a PE ratio of 63.16, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

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 return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm posted $0.68 EPS. General Electric’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

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.