General Electric (NYSE:GE) Stock Price Up 2%

General Electric (NYSE:GE) shares rose 2% during trading on Wednesday . The stock traded as high as $157.02 and last traded at $156.76. Approximately 6,187,178 shares traded hands during trading, a decline of 27% from the average daily volume of 8,443,114 shares. The stock had previously closed at $153.70.

Analyst Ratings Changes

GE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. The Goldman Sachs Group assumed coverage on shares of General Electric in a research report on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price objective on the stock. Bank of America reduced their price objective on shares of General Electric from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. StockNews.com started coverage on shares of General Electric in a research report on Saturday, April 13th. They set a “hold” rating on the stock. Finally, TheStreet raised shares of General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $160.07.

General Electric Stock Down 1.7 %

The company’s 50 day moving average price is $159.15 and its 200 day moving average price is $134.10. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $167.22 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 3.78 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, April 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. General Electric’s payout ratio is currently 13.38%.

Insider Activity at General Electric

In related news, SVP Michael J. Holston sold 22,055 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Plimoth Trust Co. LLC raised its position in shares of General Electric by 0.7% in the first quarter. Plimoth Trust Co. LLC now owns 12,617 shares of the conglomerate’s stock worth $2,215,000 after acquiring an additional 92 shares during the period. Saxon Interests Inc. acquired a new position in shares of General Electric during the 1st quarter worth about $235,000. Verum Partners LLC raised its position in shares of General Electric by 7.1% during the 1st quarter. Verum Partners LLC now owns 2,926 shares of the conglomerate’s stock worth $514,000 after purchasing an additional 195 shares during the last quarter. Cullinan Associates Inc. acquired a new position in shares of General Electric during the 1st quarter worth about $2,051,000. Finally, Consilio Wealth Advisors LLC acquired a new position in shares of General Electric during the 1st quarter worth about $213,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.