General Electric (NYSE:GE) Stock Price Down 0.4% After Insider Selling

Shares of General Electric (NYSE:GE) traded down 0.4% during trading on Wednesday following insider selling activity. The stock traded as low as $176.80 and last traded at $176.86. 662,634 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 6,189,852 shares. The stock had previously closed at $177.56.

Specifically, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group lifted their price objective on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Bank of America upped their target price on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market capitalization of $193.59 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 1.75 and a beta of 1.19. The business has a fifty day simple moving average of $183.17 and a 200 day simple moving average of $171.01.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the company posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s dividend payout ratio is presently 19.68%.

Institutional Investors Weigh In On General Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its position in General Electric by 33.8% during the first quarter. Axxcess Wealth Management LLC now owns 10,194 shares of the conglomerate’s stock worth $1,789,000 after purchasing an additional 2,575 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of General Electric by 94.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,405 shares of the conglomerate’s stock worth $1,826,000 after acquiring an additional 5,054 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of General Electric by 2.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 41,249 shares of the conglomerate’s stock worth $7,240,000 after acquiring an additional 830 shares in the last quarter. Gabelli Funds LLC increased its stake in General Electric by 64.8% in the first quarter. Gabelli Funds LLC now owns 88,100 shares of the conglomerate’s stock valued at $15,464,000 after acquiring an additional 34,650 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in General Electric during the first quarter valued at approximately $325,000. 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.