General Electric (NYSE:GE) Trading 0% Higher on Analyst Upgrade

Shares of General Electric (NYSE:GE) traded up 0% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $165.00 to $192.00. Wells Fargo & Company currently has an overweight rating on the stock. General Electric traded as high as $166.26 and last traded at $164.50. 1,619,532 shares traded hands during trading, a decline of 80% from the average session volume of 7,999,594 shares. The stock had previously closed at $164.49.

Other equities analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of General Electric in a report on Monday. They set a “hold” rating on the stock. TD Cowen raised General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Bank of America raised their price target on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays dropped their price objective on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. 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 thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.29.

Insider Buying and Selling

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently made changes to their positions in GE. Halpern Financial Inc. lifted its position in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after buying an additional 184 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of General Electric in the 4th quarter valued at $27,000. CGC Financial Services LLC increased its position in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares in the last quarter. Capital Analysts LLC raised its stake in shares of General Electric by 55.8% in the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 87 shares during the last quarter. Finally, Horrell Capital Management Inc. acquired a new position in shares of General Electric in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

The stock has a 50-day moving average of $161.02 and a 200 day moving average of $136.80. The firm has a market capitalization of $178.66 billion, a P/E ratio of 53.93, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating 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 company had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. On average, research analysts anticipate that General Electric will post 3.93 earnings per share for the current year.

General Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. General Electric’s dividend payout ratio is presently 36.72%.

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.