General Electric (NYSE:GE) Trading Down 1.8% – Here’s What Happened

General Electric (NYSE:GE) traded down 1.8% during trading on Wednesday . The stock traded as low as $180.75 and last traded at $181.29. 669,942 shares were traded during mid-day trading, a decline of 89% from the average session volume of 6,163,153 shares. The stock had previously closed at $184.60.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada dropped their price target on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

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 stock has a market capitalization of $195.46 billion, a PE ratio of 31.86, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a 50-day moving average of $183.29 and a two-hundred day moving average of $171.37.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that General Electric will post 4.24 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) 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 business’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 transaction, the senior vice president now 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 SEC, which is available through this hyperlink. 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 value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GE. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in the second 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 last quarter. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of General Electric during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric in the third quarter valued at $27,000. Finally, Peterson Financial Group Inc. bought a new position in General Electric during the 3rd quarter valued at $28,000. 74.77% of the stock is 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.