General Electric (NYSE:GE) Reaches New 12-Month High on Better-Than-Expected Earnings

Shares of General Electric (NYSE:GE) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $202.50 and last traded at $204.64, with a volume of 637259 shares traded. The stock had previously closed at $188.36.

The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s payout ratio is currently 19.68%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup boosted their price objective on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northcoast Research assumed coverage on General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Melius Research boosted their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average target price of $201.47.

Insider Transactions at General Electric

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

Institutional Trading of General Electric

Large investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of General Electric in the fourth quarter worth $677,000. Caprock Group LLC increased its stake in shares of General Electric by 1.7% in the fourth quarter. Caprock Group LLC now owns 65,346 shares of the conglomerate’s stock worth $10,918,000 after acquiring an additional 1,081 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of General Electric in the fourth quarter worth $85,000. AA Financial Advisors LLC increased its stake in shares of General Electric by 15.1% in the fourth quarter. AA Financial Advisors LLC now owns 3,187 shares of the conglomerate’s stock worth $532,000 after acquiring an additional 418 shares during the last quarter. Finally, Strategic Advocates LLC increased its stake in shares of General Electric by 1.6% in the fourth quarter. Strategic Advocates LLC now owns 15,433 shares of the conglomerate’s stock worth $2,574,000 after acquiring an additional 237 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $217.17 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 1.53 and a beta of 1.19. The stock’s 50 day moving average price is $174.49 and its two-hundred day moving average price is $174.59.

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.