General Electric (NYSE:GE) Shares Down 0.8%

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GE shares. The Goldman Sachs Group boosted their price target on General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Bank of America lifted their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market cap of $186.07 billion, a P/E ratio of 55.70, a P/E/G ratio of 1.70 and a beta of 1.21. The business’s 50-day simple moving average is $163.41 and its 200 day simple moving average is $160.76.

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

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Insider Transactions at General Electric

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in General Electric in the 4th quarter worth $27,000. MFA Wealth Advisors LLC purchased a new stake in General Electric in the 2nd quarter worth $31,000. Bfsg LLC purchased a new stake in General Electric in the 4th quarter worth $32,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in General Electric in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.