General Electric (NYSE:GE) Trading Up 1.2% – Here’s What Happened

Shares of General Electric (NYSE:GE) were up 1.2% during trading on Tuesday . The stock traded as high as $212.19 and last traded at $210.72. Approximately 848,316 shares changed hands during trading, a decline of 84% from the average daily volume of 5,470,866 shares. The stock had previously closed at $208.27.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GE shares. JPMorgan Chase & Co. increased their price target on shares of General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Bank of America increased their price target on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Citigroup increased their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

General Electric Stock Up 0.8 %

The firm’s 50 day simple moving average is $183.40 and its 200 day simple moving average is $179.67. The company has a market cap of $225.33 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.56 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88.

General Electric (NYSE:GE) last announced its quarterly 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%. Sell-side analysts anticipate that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.69%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio (DPR) is presently 18.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management increased its stake in shares of General Electric by 516.5% during the fourth quarter. Neo Ivy Capital Management now owns 49,230 shares of the conglomerate’s stock valued at $8,211,000 after acquiring an additional 41,244 shares during the period. Sunbelt Securities Inc. increased its stake in shares of General Electric by 275.1% during the fourth quarter. Sunbelt Securities Inc. now owns 4,516 shares of the conglomerate’s stock valued at $759,000 after acquiring an additional 3,312 shares during the period. Vise Technologies Inc. increased its stake in shares of General Electric by 44.5% during the fourth quarter. Vise Technologies Inc. now owns 17,171 shares of the conglomerate’s stock valued at $2,864,000 after acquiring an additional 5,291 shares during the period. Highview Capital Management LLC DE increased its stake in shares of General Electric by 6.0% during the fourth quarter. Highview Capital Management LLC DE now owns 6,236 shares of the conglomerate’s stock valued at $1,040,000 after acquiring an additional 353 shares during the period. Finally, RB Capital Management LLC increased its stake in shares of General Electric by 77.0% during the fourth quarter. RB Capital Management LLC now owns 3,228 shares of the conglomerate’s stock valued at $538,000 after acquiring an additional 1,404 shares during the period. 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.