General Electric (NYSE:GE) Shares Down 0.8%

General Electric (NYSE:GE) shares fell 0.8% during mid-day trading on Tuesday . The stock traded as low as $169.49 and last traded at $169.49. Approximately 516,977 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 6,880,613 shares. The stock had previously closed at $170.93.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays raised their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their target price on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, Bank of America upped their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Down 0.5 %

The stock has a market capitalization of $186.07 billion, a price-to-earnings ratio of 55.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. The business’s 50-day moving average is $163.41 and its two-hundred day moving average is $160.76. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Equities analysts anticipate that General Electric will post 4.15 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Macroview Investment Management LLC grew its holdings in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Allegheny Financial Group LTD lifted its holdings in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares in the last quarter. New England Research & Management Inc. raised its holdings in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after acquiring an additional 63 shares in the last quarter. Certified Advisory Corp raised its holdings in shares of General Electric by 1.0% during the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after acquiring an additional 63 shares in the last quarter. Finally, Argent Trust Co increased its position in General Electric by 0.6% during the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after buying an additional 64 shares during the last quarter. 74.77% of the stock is currently owned by hedge funds and other 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.