General Electric (NYSE:GE) Stock Price Up 0.9% Following Analyst Upgrade

General Electric (NYSE:GE)’s stock price traded up 0.9% during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $203.00 to $212.00. Wells Fargo & Company currently has an overweight rating on the stock. General Electric traded as high as $187.88 and last traded at $187.72. 1,093,889 shares traded hands during trading, a decline of 80% from the average session volume of 5,455,637 shares. The stock had previously closed at $186.00.

Several other analysts have also recently commented on GE. 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 research report on Thursday, January 2nd. Citigroup cut their price target on shares of General Electric from $235.00 to $227.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Bank of America raised their target price on shares of General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Northcoast Research raised General Electric from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently made changes to their positions in GE. New Age Alpha Advisors LLC increased its position in General Electric by 133.3% during the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after buying an additional 84 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of General Electric in the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in General Electric during the 4th quarter worth $28,000. Putney Financial Group LLC bought a new stake in shares of General Electric during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of General Electric during the 4th quarter worth $29,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Up 0.8 %

The company has a market cap of $201.16 billion, a P/E ratio of 31.28, a PEG ratio of 2.59 and a beta of 1.04. The stock has a 50-day moving average of $197.99 and a 200 day moving average of $186.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from General Electric’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 10th. General Electric’s dividend payout ratio is presently 24.04%.

About General Electric

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.