General Electric (NYSE:GE) Trading 2.1% Higher – What’s Next?

General Electric (NYSE:GE) shares shot up 2.1% during trading on Friday . The company traded as high as $182.56 and last traded at $182.54. 769,144 shares were traded during trading, a decline of 88% from the average session volume of 6,273,430 shares. The stock had previously closed at $178.85.

Analyst Ratings Changes

Several brokerages have recently issued reports on GE. Bank of America boosted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Melius Research upped their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, UBS Group upped their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

The company has a 50 day moving average price of $180.47 and a 200 day moving average price of $169.59. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $200.02 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 1.70 and a beta of 1.19.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. Equities research analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Tsfg LLC lifted its holdings in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after purchasing an additional 55 shares in the last quarter. Macroview Investment Management LLC grew its position in shares of General Electric by 37.9% in the second 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 period. Strategic Advisors LLC grew its holdings in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of General Electric by 1.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD lifted its stake in shares of General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.