General Electric (NYSE:GE) Stock Price Up 0.3% – What’s Next?

Shares of General Electric (NYSE:GE) rose 0.3% during trading on Thursday . The stock traded as high as $173.58 and last traded at $172.85. Approximately 4,527,662 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 4,825,919 shares. The stock had previously closed at $172.31.

Wall Street Analysts Forecast Growth

GE has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America lifted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.47.

General Electric Trading Down 0.7 %

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 firm has a market cap of $185.78 billion, a PE ratio of 30.17, a PEG ratio of 1.63 and a beta of 1.19. The stock’s 50 day simple moving average is $174.34 and its 200 day simple moving average is $173.36.

General Electric (NYSE:GE) last announced its quarterly earnings data 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. On average, sell-side analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. 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

Several institutional investors have recently bought and sold shares of GE. Newport Trust Company LLC bought a new position in General Electric during the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC lifted its stake in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares during the period. Massachusetts Financial Services Co. MA bought a new position in General Electric during the 2nd quarter valued at about $580,200,000. International Assets Investment Management LLC lifted its stake in General Electric by 21,069.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock valued at $598,391,000 after acquiring an additional 3,158,153 shares during the period. Finally, Wulff Hansen & CO. lifted its stake in shares of General Electric by 18,693.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock worth $256,581,000 after purchasing an additional 1,605,434 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.