General Electric (NYSE:GE) Hits New 52-Week High – Time to Buy?

General Electric (NYSE:GE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $212.20 and last traded at $212.27, with a volume of 644459 shares changing hands. The stock had previously closed at $210.23.

Wall Street Analyst Weigh In

A number of research firms recently commented on GE. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company increased their target price on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Northcoast Research started coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating for the company. Finally, Citigroup upped their target price 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $211.31.

General Electric Stock Down 2.3 %

The business has a fifty day moving average of $200.66 and a 200 day moving average of $185.98. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The firm has a market cap of $222.53 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. On average, equities research analysts predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 24.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. New Age Alpha Advisors LLC raised its position in shares of General Electric by 133.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 84 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of General Electric during the fourth quarter worth $27,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in General Electric in the 4th quarter valued at $28,000. Putney Financial Group LLC bought a new stake in General Electric in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Electric in the 4th quarter worth $29,000. 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.