General Electric (NYSE:GE – Get Free Report) shares reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $120.00 to $130.00. Jefferies Financial Group currently has a buy rating on the stock. General Electric traded as high as $112.04 and last traded at $111.45, with a volume of 821452 shares. The stock had previously closed at $110.28.
Other analysts have also recently issued reports about the company. Citigroup boosted their price target on General Electric from $114.00 to $126.00 in a research report on Monday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 12th. Barclays boosted their price objective on shares of General Electric from $115.00 to $125.00 in a research report on Wednesday, June 7th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company upped their target price on shares of General Electric from $100.00 to $105.00 in a report on Monday, July 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.63.
Insider Activity at General Electric
In other General Electric news, VP Thomas S. Timko sold 7,254 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $100.82, for a total value of $731,348.28. Following the completion of the sale, the vice president now owns 20,953 shares of the company’s stock, valued at $2,112,481.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Electric news, major shareholder General Electric Pension Trust acquired 35,160 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average cost of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the acquisition, the insider now directly owns 175,160 shares in the company, valued at approximately $174,361,270.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas S. Timko sold 7,254 shares of General Electric stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $100.82, for a total transaction of $731,348.28. Following the transaction, the vice president now directly owns 20,953 shares in the company, valued at $2,112,481.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,419 shares of company stock valued at $24,144,151. Insiders own 0.67% of the company’s stock.
Hedge Funds Weigh In On General Electric
General Electric Trading Up 0.8 %
The stock has a 50-day simple moving average of $105.29 and a 200 day simple moving average of $93.99. The company has a market cap of $121.03 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 7.75 and a beta of 1.27. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61.
General Electric (NYSE:GE – Get Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.14. General Electric had a return on equity of 9.45% and a net margin of 11.85%. The firm had revenue of $14.49 billion during the quarter, compared to analyst estimates of $13.46 billion. During the same quarter in the previous year, the business earned $0.24 EPS. General Electric’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that General Electric will post 2.03 EPS for the current fiscal year.
General Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Monday, July 10th. General Electric’s dividend payout ratio is presently 4.17%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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