General Electric (NYSE:GE) Stock Price Up 0.9% Following Dividend Announcement

General Electric (NYSE:GE)’s stock price rose 0.9% during mid-day trading on Friday after the company announced a dividend. The company traded as high as $167.87 and last traded at $166.27. Approximately 1,101,650 shares traded hands during trading, a decline of 82% from the average daily volume of 6,114,160 shares. The stock had previously closed at $164.83.

The newly announced dividend which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Wall Street Analysts Forecast Growth

GE has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company raised their target price on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Melius Research increased their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.93.

General Electric Trading Up 0.7 %

The company has a market cap of $179.67 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. 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 business has a 50 day simple moving average of $180.30 and a 200 day simple moving average of $172.44.

General Electric (NYSE:GE) last posted its quarterly earnings data 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. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, equities analysts forecast that General Electric will post 4.24 EPS for the current year.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on 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 approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of General Electric

Institutional investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC bought a new position in shares of General Electric in the third quarter valued at $44,725,000. B. Riley Wealth Advisors Inc. grew its position in shares of General Electric by 6.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,655 shares of the conglomerate’s stock valued at $3,862,000 after acquiring an additional 1,193 shares during the period. Tyro Capital Management LLC grew its position in shares of General Electric by 0.6% in the 3rd quarter. Tyro Capital Management LLC now owns 70,607 shares of the conglomerate’s stock valued at $13,315,000 after acquiring an additional 429 shares during the period. Franklin Resources Inc. increased its stake in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in shares of General Electric by 0.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 48,843 shares of the conglomerate’s stock valued at $9,211,000 after purchasing an additional 278 shares during the period. Institutional investors own 74.77% of the company’s stock.

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.