General Electric (NYSE:GE) Trading 1.5% Higher

General Electric (NYSE:GE) was up 1.5% during mid-day trading on Wednesday . The company traded as high as $164.49 and last traded at $163.94. Approximately 951,009 shares changed hands during trading, a decline of 87% from the average daily volume of 7,258,286 shares. The stock had previously closed at $161.45.

Analysts Set New Price Targets

Several research firms have commented on GE. Jefferies Financial Group upped their price target 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. JPMorgan Chase & Co. raised their target price on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and boosted their price target for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Bank of America raised their price objective on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $181.93.

General Electric Trading Up 1.5 %

The company has a fifty day moving average of $162.51 and a 200-day moving average of $152.12. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $179.35 billion, a price-to-earnings ratio of 53.75, a PEG ratio of 1.69 and a beta of 1.22.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 4 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s payout ratio is presently 36.72%.

Insider Activity at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Electric

Hedge funds have recently modified their holdings of the company. Marcum Wealth LLC boosted its holdings in General Electric by 8.4% in the 2nd quarter. Marcum Wealth LLC now owns 2,922 shares of the conglomerate’s stock valued at $465,000 after purchasing an additional 226 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of General Electric by 7.8% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 4,140 shares of the conglomerate’s stock valued at $658,000 after buying an additional 300 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in General Electric by 15.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,822 shares of the conglomerate’s stock valued at $608,000 after acquiring an additional 499 shares during the last quarter. GAMMA Investing LLC grew its position in General Electric by 25.4% in the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after acquiring an additional 3,442 shares during the period. Finally, Trust Co of the South increased its stake in General Electric by 1.2% during the second quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock worth $939,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.