General Electric (NYSE:GE) Reaches New 1-Year High at $166.92

General Electric (NYSE:GE)’s share price hit a new 52-week high on Monday . The company traded as high as $166.92 and last traded at $167.26, with a volume of 655171 shares changing hands. The stock had previously closed at $164.11.

Analysts Set New Price Targets

GE has been the topic of several research reports. Barclays lowered their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Jefferies Financial Group boosted their price target on General Electric from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 29th. TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Vertical Research initiated coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Bank of America boosted their price objective on General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $172.29.

General Electric Stock Up 0.5 %

The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $162.49 and its 200-day moving average price is $139.17. The company has a market cap of $184.75 billion, a price-to-earnings ratio of 55.34, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter last year, the firm posted $0.27 earnings per share. General Electric’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 3.96 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. 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 payout ratio is 36.72%.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business’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 transaction of $3,195,107.85. Following the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Institutional investors have recently bought and sold shares of the business. Halpern Financial Inc. grew its holdings 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 purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in General Electric during the fourth quarter valued at approximately $27,000. CGC Financial Services LLC lifted its stake in General Electric by 90.2% during the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. Capital Analysts LLC boosted its holdings in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Finally, Bfsg LLC acquired a new position in shares of General Electric during the 4th quarter worth $32,000. Institutional investors and hedge funds 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.