General Electric (NYSE:GE) Stock Price Down 0.5% – Here’s Why

Shares of General Electric (NYSE:GE) fell 0.5% on Wednesday . The stock traded as low as $208.89 and last traded at $209.05. 521,433 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 5,426,338 shares. The stock had previously closed at $210.08.

Analyst Ratings Changes

Several research firms have recently commented on GE. Redburn Atlantic initiated coverage on General Electric in a research note on Tuesday. They issued a “buy” rating and a $250.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of General Electric in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on General Electric from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company lifted their price objective on General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.31.

General Electric Stock Up 0.3 %

The firm has a market capitalization of $226.06 billion, a P/E ratio of 35.20, a PEG ratio of 2.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The firm’s 50-day moving average is $184.18 and its 200 day moving average is $180.02.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. As a group, equities research analysts predict that General Electric will post 5.39 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 18.70%.

Institutional Investors Weigh In On General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Planning Group LLC NY acquired a new stake in shares of General Electric in the fourth quarter valued at about $1,834,000. Pinney & Scofield Inc. acquired a new position in shares of General Electric during the 4th quarter worth approximately $145,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of General Electric during the 4th quarter worth approximately $596,000. Neo Ivy Capital Management boosted its holdings in shares of General Electric by 516.5% in the 4th quarter. Neo Ivy Capital Management now owns 49,230 shares of the conglomerate’s stock valued at $8,211,000 after buying an additional 41,244 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in General Electric by 275.1% during the fourth quarter. Sunbelt Securities Inc. now owns 4,516 shares of the conglomerate’s stock worth $759,000 after buying an additional 3,312 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.