General Electric (NYSE:GE – Get Free Report)’s share price was down 4.3% on Thursday . The company traded as low as $174.72 and last traded at $174.88. Approximately 1,911,251 shares traded hands during trading, a decline of 69% from the average daily volume of 6,096,339 shares. The stock had previously closed at $182.65.
Analyst Ratings Changes
Several research analysts have commented on GE shares. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.
General Electric Trading Down 4.4 %
The firm has a market cap of $188.90 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.78 and a beta of 1.17. The business’s 50-day moving average is $182.53 and its two-hundred day moving average is $172.15. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.
General Electric (NYSE:GE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period in the prior year, the firm earned $0.82 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.
General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.
Insider Buying and Selling at General Electric
In related news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On General Electric
Institutional investors have recently added to or reduced their stakes in the company. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter valued at about $2,613,332,000. Jennison Associates LLC lifted its stake in General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in General Electric during the second quarter worth approximately $580,200,000. International Assets Investment Management LLC grew its position in General Electric by 21,069.8% in the third quarter. International Assets Investment Management LLC now owns 3,173,142 shares of the conglomerate’s stock worth $598,391,000 after buying an additional 3,158,153 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of General Electric by 18,693.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,614,022 shares of the conglomerate’s stock valued at $256,581,000 after acquiring an additional 1,605,434 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
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.