General Electric (NYSE:GE) Trading 1.6% Higher – What’s Next?

General Electric (NYSE:GE) traded up 1.6% during trading on Wednesday . The stock traded as high as $185.73 and last traded at $185.51. 675,414 shares were traded during trading, a decline of 89% from the average session volume of 6,238,397 shares. The stock had previously closed at $182.64.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GE. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays lifted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Bank of America upped their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market cap of $193.06 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The business’s 50-day moving average price is $181.69 and its two-hundred day moving average price is $170.43.

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

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors boosted its holdings in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the last quarter. Newport Trust Company LLC purchased a new position in shares of General Electric during the 2nd quarter valued at approximately $2,613,332,000. Capital World Investors grew its position in shares of General Electric by 2,818.1% during the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares in the last quarter. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock worth $1,336,257,000 after buying an additional 459,201 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in General Electric by 91.8% in the third 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 in the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

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.