General Electric (NYSE:GE) Trading Down 4.6%

General Electric (NYSE:GE) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $166.35 and last traded at $166.55. 1,544,431 shares were traded during mid-day trading, a decline of 77% from the average session volume of 6,726,076 shares. The stock had previously closed at $174.62.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, UBS Group boosted 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Down 1.5 %

The firm has a market capitalization of $179.42 billion, a PE ratio of 53.95, a P/E/G ratio of 1.73 and a beta of 1.18. The firm’s 50 day moving average price is $165.67 and its two-hundred day moving average price is $163.09. 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 data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating 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 firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Institutional Trading of General Electric

A number of large investors have recently modified their holdings of the company. Newport Trust Company LLC bought a new position in shares of General Electric during the 2nd quarter valued at about $2,613,332,000. Capital World Investors boosted its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter valued at about $1,193,159,000. Capital International Investors boosted its position in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of General Electric by 221.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.