General Electric (NYSE:GE – Get Free Report) shares fell 0.4% during trading on Monday . The stock traded as low as $183.09 and last traded at $184.59. 624,903 shares changed hands during trading, a decline of 90% from the average session volume of 6,545,272 shares. The stock had previously closed at $185.38.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. UBS Group boosted their target price on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada increased their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein started coverage on General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective on the stock. Two equities research 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, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.36.
General Electric Trading Up 0.4 %
The stock has a fifty day moving average of $171.51 and a 200-day moving average of $169.77. The company has a market cap of $203.82 billion, a PE ratio of 60.52, a PEG ratio of 1.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14.
General Electric (NYSE:GE – Get Free Report) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.
General Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.
Institutional Investors Weigh In On General Electric
Institutional investors and hedge funds have recently bought and sold shares of the company. Macroview Investment Management LLC raised its stake in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Allegheny Financial Group LTD lifted its position in General Electric by 1.4% during the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares during the last quarter. New England Research & Management Inc. boosted its stake in General Electric by 2.2% in the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares in the last quarter. Certified Advisory Corp grew its holdings in General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after purchasing an additional 63 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in shares of General Electric by 0.6% during the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after purchasing an additional 64 shares during the last quarter. 74.77% of the stock is owned by institutional investors.
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.