General Electric (NYSE:GE) Stock Price Up 1.1% on Analyst Upgrade

General Electric (NYSE:GE)’s stock price was up 1.1% during trading on Monday after Sanford C. Bernstein raised their price target on the stock from $201.00 to $225.00. Sanford C. Bernstein currently has an outperform rating on the stock. General Electric traded as high as $193.93 and last traded at $193.27. Approximately 892,447 shares traded hands during trading, a decline of 86% from the average daily volume of 6,387,553 shares. The stock had previously closed at $191.16.

A number of other research firms have also recently commented on GE. Barclays lifted their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group boosted their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $196.86.

Institutional Trading of General Electric

A number of institutional investors have recently modified their holdings of the company. Macroview Investment Management LLC lifted its stake in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Strategic Advisors LLC lifted its position in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares in the last quarter. Allegheny Financial Group LTD boosted its holdings in General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after acquiring an additional 61 shares during the period. New England Research & Management Inc. boosted its holdings in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares during the period. Finally, Certified Advisory Corp grew its position in General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Price Performance

The business’s 50 day moving average price is $175.61 and its 200-day moving average price is $166.50. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The company has a market cap of $211.17 billion, a PE ratio of 63.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 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.