General Electric (NYSE:GE) Shares Up 1.6% – What’s Next?

by · The Markets Daily

General Electric (NYSE:GE – Get Free Report)’s stock price rose 1.6% during trading on Thursday . The company traded as high as $164.37 and last traded at $162.57. Approximately 970,844 shares changed hands during trading, a decline of 84% from the average daily volume of 6,117,005 shares. The stock had previously closed at $159.95.

Analyst Ratings Changes

GE has been the subject of a number of analyst reports. Royal Bank of Canada cut their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised their price target on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two equities research 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, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $201.93.

Check Out Our Latest Analysis on General Electric

General Electric Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $177.96 and its 200-day simple moving average is $172.43. The stock has a market cap of $182.23 billion, a P/E ratio of 29.59, a PEG ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that General Electric will post 4.24 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of General Electric

A number of institutional investors have recently made changes to their positions in GE. Studio Investment Management LLC raised its position in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in General Electric during the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric during the third quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. acquired a new position in General Electric in the third quarter worth approximately $28,000. 74.77% of the stock is owned by institutional investors and hedge funds.

General Electric Company Profile

(Get Free Report)

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.

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