General Electric (NYSE:GE) Trading 0.1% Higher

General Electric (NYSE:GE)’s stock price rose 0.1% during trading on Monday . The stock traded as high as $161.42 and last traded at $160.01. Approximately 1,240,988 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 7,633,341 shares. The stock had previously closed at $159.89.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GE. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada increased their target price on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group increased their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays decreased their price target on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.21.

General Electric Stock Performance

The company has a market cap of $176.47 billion, a price-to-earnings ratio of 52.80, a P/E/G ratio of 2.81 and a beta of 1.25. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $162.61 and its 200 day simple moving average is $142.94.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts anticipate that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a $0.28 dividend. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

Institutional Trading of General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after purchasing an additional 12,312,648 shares during the period. Norges Bank purchased a new position in shares of General Electric during the 4th quarter worth approximately $1,193,159,000. Capital International Investors boosted its position 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 worth $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of General Electric by 221.6% during 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 period. Finally, WCM Investment Management LLC purchased a new position in shares of General Electric during the 4th quarter worth approximately $520,488,000. 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.