General Electric (NYSE:GE) Trading Up 0.2% – Here’s Why

General Electric (NYSE:GE)’s stock price shot up 0.2% on Monday . The company traded as high as $194.38 and last traded at $193.09. 1,107,468 shares changed hands during trading, a decline of 82% from the average session volume of 6,308,342 shares. The stock had previously closed at $192.61.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada reduced their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America boosted their target price on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group increased their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

The company has a market cap of $198.88 billion, a PE ratio of 59.52, a PEG ratio of 1.86 and a beta of 1.18. The company has a 50-day moving average of $179.24 and a 200-day moving average of $168.05. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Institutional Trading of General Electric

A number of institutional investors have recently modified their holdings of GE. Toth Financial Advisory Corp bought a new position in General Electric in the 3rd quarter valued at $25,000. Studio Investment Management LLC grew its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of General Electric during the 2nd quarter valued at $31,000. Richardson Financial Services Inc. purchased a new position in General Electric in the 1st quarter worth $34,000. Finally, Financial Connections Group Inc. bought a new stake in General Electric in the second quarter worth $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.