General Electric (NYSE:GE) Trading 1.3% Higher

General Electric (NYSE:GE)’s stock price rose 1.3% on Friday . The company traded as high as $172.04 and last traded at $171.92. Approximately 989,875 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 6,610,510 shares. The stock had previously closed at $169.70.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Barclays increased their price target on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada increased their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The business has a 50-day moving average price of $166.57 and a two-hundred day moving average price of $171.27. The firm has a market cap of $195.15 billion, a PE ratio of 58.45, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm 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 posted $0.68 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Hedge Funds Weigh In On General Electric

A number of institutional investors have recently made changes to their positions in GE. Macroview Investment Management LLC raised its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Allegheny Financial Group LTD raised its position in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after buying an additional 61 shares during the last quarter. New England Research & Management Inc. lifted its stake in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after buying an additional 63 shares during the period. Certified Advisory Corp lifted its stake in shares of General Electric by 1.0% during the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after buying an additional 63 shares during the period. Finally, Argent Trust Co boosted its position in General Electric by 0.6% during the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after acquiring an additional 64 shares during the last quarter. 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.