General Electric (NYSE:GE) Stock Price Down 1.8%

General Electric (NYSE:GE)’s share price fell 1.8% on Monday . The stock traded as low as $156.15 and last traded at $156.15. 1,097,201 shares were traded during trading, a decline of 85% from the average session volume of 7,298,129 shares. The stock had previously closed at $158.97.

Analyst Ratings Changes

A number of analysts have commented on GE shares. Vertical Research started coverage on shares of General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price target on the stock. The Goldman Sachs Group upped their target price on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com assumed coverage on General Electric in a research report on Monday, April 29th. They set a “hold” rating on the stock. Citigroup boosted their price objective on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, TD Cowen raised General Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.93.

General Electric Trading Down 0.6 %

The firm has a market cap of $172.94 billion, a P/E ratio of 51.20, a PEG ratio of 1.69 and a beta of 1.22. The company has a 50 day moving average of $162.36 and a 200 day moving average of $151.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.82 and a current ratio of 1.17.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the company posted $0.27 earnings per share. General Electric’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict that General Electric will post 4 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. General Electric’s payout ratio is presently 36.72%.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was 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 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 accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Teza Capital Management LLC acquired a new stake in shares of General Electric during the 3rd quarter worth about $205,000. Ancora Advisors LLC raised its position in General Electric by 5.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the conglomerate’s stock valued at $196,000 after purchasing an additional 92 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in General Electric by 8.1% in the third quarter. Rehmann Capital Advisory Group now owns 2,615 shares of the conglomerate’s stock worth $289,000 after purchasing an additional 196 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Electric by 2.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 123,719 shares of the conglomerate’s stock worth $13,677,000 after purchasing an additional 3,431 shares during the last quarter. Finally, Logan Capital Management Inc. increased its stake in shares of General Electric by 68.6% in the third quarter. Logan Capital Management Inc. now owns 3,687 shares of the conglomerate’s stock valued at $408,000 after buying an additional 1,500 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

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.