General Electric (NYSE:GE – Get Free Report) was down 1.8% during trading on Monday . The stock traded as low as $175.30 and last traded at $175.80. Approximately 1,518,569 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 6,343,716 shares. The stock had previously closed at $179.10.
Analyst Upgrades and Downgrades
GE has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup raised their price target on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.
General Electric Stock Performance
The stock has a market cap of $190.08 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. The company’s 50-day simple moving average is $179.99 and its 200-day simple moving average is $168.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.
General Electric (NYSE:GE – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for 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 company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Analysts predict that General Electric will post 4.2 EPS for the current fiscal year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is presently 19.68%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in GE. Studio Investment Management LLC raised its stake in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new position in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in General Electric during the third quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in General Electric in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter worth about $32,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
About General Electric
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.