General Electric (NYSE:GE - Get Free Report) rose 3% on Wednesday . The company traded as high as $181.76 and last traded at $180.56. Approximately 1,917,503 shares traded hands during trading, a decline of 69% from the average daily volume of 6,285,856 shares. The stock had previously closed at $175.26.
A number of analysts have weighed in on GE shares. Royal Bank of Canada decreased their price target on General Electric from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on General Electric from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Bank of America lifted their price target on shares of General Electric from $180.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of "Moderate Buy" and an average target price of $200.93.
Read Our Latest Stock Report on GE
The company has a market capitalization of $195.68 billion, a PE ratio of 31.78, a PEG ratio of 1.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock's 50 day moving average is $180.47 and its 200 day moving average is $169.59.
General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $9.84 billion during the quarter, compared to analysts' expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that General Electric will post 4.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric's payout ratio is 19.68%.
Institutional investors have recently added to or reduced their stakes in the business. Schear Investment Advisers LLC increased its holdings in shares of General Electric by 12.4% in the 3rd quarter. Schear Investment Advisers LLC now owns 7,572 shares of the conglomerate's stock worth $1,428,000 after buying an additional 838 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in General Electric by 14.9% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,459 shares of the conglomerate's stock worth $275,000 after purchasing an additional 189 shares during the last quarter. Heritage Investment Group Inc. purchased a new position in shares of General Electric during the 3rd quarter valued at about $253,000. Natixis Advisors LLC lifted its position in General Electric by 7.5% in the 3rd quarter. Natixis Advisors LLC now owns 696,404 shares of the conglomerate's stock worth $131,328,000 after buying an additional 48,298 shares during the last quarter. Finally, Meridian Investment Counsel Inc. grew its position in General Electric by 3.8% during the third quarter. Meridian Investment Counsel Inc. now owns 12,175 shares of the conglomerate's stock valued at $2,296,000 after acquiring an additional 442 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider General Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Electric wasn't on the list.
While General Electric currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.