General Electric (NYSE:GE) Stock Price Up 0.6% – Here’s What Happened

General Electric (NYSE:GE)’s stock price traded up 0.6% on Monday . The stock traded as high as $173.68 and last traded at $172.94. 1,184,640 shares were traded during trading, a decline of 61% from the average session volume of 3,034,132 shares. The stock had previously closed at $171.96.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Northcoast Research assumed coverage on General Electric in a research note on Tuesday. They issued a “neutral” rating for the company. Finally, Bank of America lifted their target price on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Up 0.3 %

The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $174.36 and a two-hundred day simple moving average of $173.28. The company has a market capitalization of $187.07 billion, a P/E ratio of 30.38, a PEG ratio of 1.63 and a beta of 1.19.

General Electric (NYSE:GE) last released its 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 firm had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % 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

A number of large investors have recently modified their holdings of the company. Legacy Private Trust Co. grew its holdings in General Electric by 16.5% during the 4th quarter. Legacy Private Trust Co. now owns 22,660 shares of the conglomerate’s stock worth $3,779,000 after acquiring an additional 3,206 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of General Electric by 2.2% during the fourth quarter. First Hawaiian Bank now owns 19,643 shares of the conglomerate’s stock valued at $3,276,000 after purchasing an additional 431 shares in the last quarter. Fulton Bank N.A. increased its holdings in General Electric by 217.4% during the fourth quarter. Fulton Bank N.A. now owns 5,888 shares of the conglomerate’s stock valued at $982,000 after buying an additional 4,033 shares during the period. Spartan Planning & Wealth Management bought a new position in General Electric in the fourth quarter worth approximately $209,000. Finally, Diversified Trust Co lifted its holdings in General Electric by 32.1% during the fourth quarter. Diversified Trust Co now owns 27,689 shares of the conglomerate’s stock worth $4,618,000 after buying an additional 6,729 shares during the period. Hedge funds and other 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.