General Electric (NYSE:GE) Sets New 12-Month High – Here’s What Happened

General Electric (NYSE:GE) shares reached a new 52-week high 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

Several analysts recently commented on GE shares. Citigroup lifted their target price on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group increased their price objective on General Electric from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Redburn Atlantic initiated coverage on shares of General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Trading Up 0.6 %

The firm’s 50-day simple moving average is $199.41 and its 200 day simple moving average is $185.47. The firm has a market capitalization of $227.09 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Equities analysts expect that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. 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 dividend yield of 0.68%. General Electric’s payout ratio is 24.04%.

Institutional Trading of General Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC raised its position in General Electric by 133.3% in the fourth quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of General Electric in the fourth quarter valued at approximately $27,000. Sumitomo Mitsui Financial Group Inc. bought a new position in General Electric in the 4th quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in General Electric during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Electric during the 4th quarter worth approximately $29,000. Institutional investors own 74.77% of the company’s stock.

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.