General Electric (NYSE:GE) Shares Down 1.4% – Here’s What Happened

General Electric (NYSE:GE)’s share price was down 1.4% during trading on Tuesday . The stock traded as low as $181.89 and last traded at $181.90. Approximately 552,709 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 6,251,901 shares. The stock had previously closed at $184.56.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays raised their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $197.67 billion, a PE ratio of 31.88, a P/E/G ratio of 1.82 and a beta of 1.19. The firm’s 50 day moving average is $180.98 and its 200 day moving average is $170.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The company also recently declared 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. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $2,407,036.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

A number of institutional investors and hedge funds have recently bought and sold shares of GE. Studio Investment Management LLC increased its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of General Electric during the third quarter worth $27,000. Finally, Peterson Financial Group Inc. acquired a new stake in General Electric in the third quarter valued at approximately $28,000. 74.77% of the stock is currently 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.