General Electric (NYSE:GE) Shares Up 0.5% – What’s Next?

General Electric (NYSE:GE)’s share price rose 0.5% during trading on Wednesday . The stock traded as high as $175.02 and last traded at $174.96. Approximately 686,283 shares traded hands during trading, a decline of 89% from the average daily volume of 6,331,272 shares. The stock had previously closed at $174.05.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com lowered 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 report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Stock Performance

The firm’s 50-day moving average price is $180.07 and its two-hundred day moving average price is $168.82. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $189.50 billion, a PE ratio of 30.75, a P/E/G ratio of 1.74 and a beta of 1.18.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Institutional Investors Weigh In On General Electric

A number of institutional investors have recently bought and sold shares of GE. Capital International Investors boosted its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after buying an additional 5,309,543 shares during the period. Newport Trust Company LLC acquired a new stake in General Electric during the second quarter valued at $2,613,332,000. Capital World Investors grew its stake in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Legal & General Group Plc grew its stake in General Electric by 5.8% in the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after purchasing an additional 459,201 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after purchasing an additional 4,907,530 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.