General Electric (NYSE:GE) Stock Price Down 0.8% – Here’s What Happened

General Electric (NYSE:GE)’s stock price was down 0.8% during trading on Tuesday . The company traded as low as $175.70 and last traded at $176.16. Approximately 454,734 shares changed hands during trading, a decline of 93% from the average daily volume of 6,202,610 shares. The stock had previously closed at $177.52.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GE shares. Wells Fargo & Company boosted their target price on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their target price on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

The stock has a 50 day moving average of $182.54 and a two-hundred day moving average of $170.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market capitalization of $192.41 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC grew its position in General Electric by 117.7% in the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the period. Mackenzie Financial Corp increased its position in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in General Electric in the second quarter valued at about $1,569,000. GAMMA Investing LLC grew its stake in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the last quarter. Finally, Senator Investment Group LP bought a new stake in General Electric during the second quarter worth about $34,973,000. Institutional investors 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.