General Electric (NYSE:GE) Shares Up 1.1% – Here’s What Happened

General Electric (NYSE:GE)’s stock price shot up 1.1% during trading on Tuesday . The stock traded as high as $206.80 and last traded at $207.44. 726,447 shares changed hands during trading, a decline of 87% from the average session volume of 5,649,015 shares. The stock had previously closed at $205.22.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Melius Research lifted their price objective on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of General Electric in a research note on Wednesday, January 22nd. Northcoast Research initiated coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a “neutral” rating on the stock. Finally, Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.73.

General Electric Stock Performance

The stock has a 50-day moving average of $180.18 and a 200 day moving average of $178.28. The firm has a market capitalization of $224.09 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, research analysts anticipate that General Electric will post 5.39 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Friday, December 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, December 27th. General Electric’s dividend payout ratio is presently 18.70%.

Insider Activity

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently modified their holdings of GE. Gilman Hill Asset Management LLC bought a new stake in shares of General Electric in the 3rd quarter valued at $209,000. CVA Family Office LLC increased its holdings in shares of General Electric by 4.4% in the third quarter. CVA Family Office LLC now owns 1,962 shares of the conglomerate’s stock worth $370,000 after acquiring an additional 83 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in shares of General Electric by 62.9% during the third quarter. Armstrong Advisory Group Inc. now owns 3,641 shares of the conglomerate’s stock worth $687,000 after purchasing an additional 1,406 shares during the period. Svenska Handelsbanken AB publ bought a new position in shares of General Electric during the 3rd quarter valued at about $38,710,000. Finally, Oliver Luxxe Assets LLC grew its position in shares of General Electric by 16.0% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 34,468 shares of the conglomerate’s stock valued at $6,500,000 after purchasing an additional 4,752 shares during the period. 74.77% of the stock is 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.