General Electric (NYSE:GE) Sets New 12-Month High Following Earnings Beat

General Electric (NYSE:GE)’s stock price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $202.50 and last traded at $204.64, with a volume of 637259 shares traded. The stock had previously closed at $188.36.

The conglomerate reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 18.93% and a net margin of 11.48%.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 19.68%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Sanford C. Bernstein increased their price objective on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. UBS Group increased their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup increased their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.47.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares in the company, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new stake in General Electric in the 3rd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the 3rd quarter valued at $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of General Electric during the third quarter valued at $30,000. 74.77% of the stock is owned by institutional investors.

General Electric Stock Performance

The firm has a market cap of $221.91 billion, a P/E ratio of 36.08, a PEG ratio of 1.53 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average of $174.49 and a 200-day moving average of $174.59.

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.