General Electric (NYSE:GE) Trading 1.5% Higher on Analyst Upgrade

General Electric (NYSE:GE)’s share price traded up 1.5% on Tuesday after UBS Group raised their price target on the stock from $201.00 to $209.00. UBS Group currently has a buy rating on the stock. General Electric traded as high as $162.18 and last traded at $161.41. 815,007 shares traded hands during trading, a decline of 89% from the average session volume of 7,273,167 shares. The stock had previously closed at $158.97.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Wells Fargo & Company lifted their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Bank of America upped their target price on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Royal Bank of Canada upped their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $181.93.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the completion of the sale, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Electric

Several hedge funds have recently made changes to their positions in GE. Halpern Financial Inc. lifted its stake in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of General Electric in the 4th quarter valued at about $27,000. CGC Financial Services LLC boosted its holdings in shares of General Electric by 90.2% in the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after buying an additional 110 shares in the last quarter. Capital Analysts LLC grew its position in shares of General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after buying an additional 87 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of General Electric during the 4th quarter worth approximately $32,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Price Performance

The company has a market cap of $178.49 billion, a PE ratio of 53.75, a PEG ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The stock’s 50-day moving average is $162.51 and its 200 day moving average is $152.12.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that General Electric will post 4 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

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.