High Volume of Call Options for General Electric (NYSE:GE)

General Electric (NYSE:GE – Get Free Report) saw a significant spike in options trading on Tuesday, with traders purchasing 110,475 call options. This represents an impressive increase of about 357% over the usual volume of 24,173 call options.

Analysts Update Price Targets

Several research firms have recently provided updates regarding General Electric's stock. Wells Fargo & Company raised its price target from $192.00 to $205.00, affirming an "overweight" rating in a report from July 24th. Citigroup followed suit, pushing their price target from $198.00 to $216.00 and issuing a "buy" rating on October 10th.

Moreover, Deutsche Bank Aktiengesellschaft elevated their price target for GE from $212.00 to $235.00, also granting a "buy" rating in their findings from October 3rd. Jefferies Financial Group slightly adjusted their price target from $185.00 to $190.00, maintaining a "buy" recommendation as of June 28th.

However, StockNews.com altered its stance on General Electric by lowering its recommendation from "buy" to "hold" in a report dated July 29th. At present, two analysts recommend holding the stock, while fourteen suggest buying. According to MarketBeat.com, GE holds an average rating of "Moderate Buy" with a consensus price target set at $198.53.

General Electric's Stock Performance

General Electric's stock commenced trading at $176.59 on Wednesday, boasting a market capitalization of $193.30 billion. The company's P/E ratio stands at 57.90, with a price-to-earnings-growth ratio of 1.86 and a beta value of 1.18. The 50-day simple moving average is at $179.24, while the 200-day moving average is $168.05. Over the past year, GE's stock has fluctuated between a low of $84.58 and a high of $194.80.

The company reported its quarterly earnings on July 23rd, declaring earnings per share (EPS) of $1.20, exceeding analyst expectations of $0.99 by $0.21. During the quarter, GE's revenue reached $9.09 billion, surpassing the expected $8.44 billion. Year-over-year, revenue showed a 3.9% increase. Analysts forecast that General Electric will achieve an EPS of 4.2 for the current fiscal year.

General Electric Dividend Declaration

The company has announced a quarterly dividend of $0.28 per share, scheduled for distribution to stockholders on October 25th. This dividend applies to shareholders recorded by September 26th. Consequently, General Electric's annualized dividend totals $1.12, resulting in a dividend yield of 0.63%. The firm currently has a dividend payout ratio (DPR) of 36.72%.

Institutional Investor Activity

Recent activity by institutional investors has also influenced General Electric's stock. Newport Trust Company LLC purchased a new stake valued at $2.61 billion during the 2nd quarter. Meanwhile, Capital World Investors significantly increased their stake in the company by 2,818.1% in the 1st quarter, amassing 12,749,560 shares worth $2.24 billion after acquiring an additional 12,312,648 shares.

Capital International Investors raised its stake by 9.9%, now holding 59,100,643 shares valued at $10.37 billion. Canada Pension Plan Investment Board also saw a notable increase of 221.6%, now owning over 7 million shares worth approximately $1.25 billion. Lastly, Massachusetts Financial Services Co. MA acquired a new stake valued at $580.2 million. Overall, around 74.77% of General Electric's stock is owned by institutional investors and hedge funds.

About General Electric

General Electric Company, operating as GE Aerospace, specializes in designing and manufacturing commercial and defense aircraft engines, integrated engine components, electric power systems, and mechanical aircraft systems. The company also provides aftermarket support for its products across various regions, including the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

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