General Electric (NYSE:GE) Stock Price Up 1%

General Electric (NYSE:GE)’s stock price shot up 1% during mid-day trading on Thursday . The company traded as high as $164.49 and last traded at $163.00. 2,577,254 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 5,797,346 shares. The stock had previously closed at $161.45.

Analyst Ratings Changes

GE has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their price objective on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Vertical Research initiated coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Citigroup raised their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group raised their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $181.93.

General Electric Trading Up 1.0 %

The firm has a market capitalization of $178.42 billion, a PE ratio of 53.44, a P/E/G ratio of 1.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a fifty day moving average of $162.59 and a 200 day moving average of $152.20.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the company posted $0.27 EPS. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that General Electric will post 4 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Electric

A number of institutional investors have recently made changes to their positions in the company. Choate Investment Advisors increased its holdings in shares of General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after acquiring an additional 65 shares during the last quarter. Walker Asset Management LLC grew its stake in General Electric by 1.7% during the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the last quarter. Trust Co of the South grew its stake in General Electric by 1.2% during the 2nd quarter. Trust Co of the South now owns 5,909 shares of the conglomerate’s stock worth $939,000 after buying an additional 70 shares during the last quarter. Global Financial Private Client LLC grew its stake in General Electric by 3.8% during the 1st quarter. Global Financial Private Client LLC now owns 1,956 shares of the conglomerate’s stock worth $343,000 after buying an additional 71 shares during the last quarter. Finally, BKM Wealth Management LLC grew its stake in General Electric by 2.6% during the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock worth $495,000 after buying an additional 72 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.