General Electric (NYSE:GE) Shares Down 0.1%

General Electric (NYSE:GE)’s share price fell 0.1% on Monday . The company traded as low as $168.40 and last traded at $169.63. 1,255,805 shares traded hands during trading, a decline of 82% from the average session volume of 7,124,587 shares. The stock had previously closed at $169.81.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GE. Wells Fargo & Company increased their target price on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Citigroup increased their target price on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Argus increased their target price on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com initiated coverage on shares of General Electric in a research report on Monday, April 29th. They set a “hold” rating for the company. Finally, Vertical Research initiated coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.93.

General Electric Stock Performance

The company’s fifty day simple moving average is $162.35 and its 200 day simple moving average is $156.68. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $185.00 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.71 and a beta of 1.22.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, sell-side analysts forecast that General Electric will post 4.13 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given 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 was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Insider Activity

In related 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 value 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 SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently modified their holdings of the company. Prime Capital Investment Advisors LLC boosted its stake in shares of General Electric by 29.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock valued at $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of General Electric by 12.5% during the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock valued at $33,335,000 after purchasing an additional 28,985 shares in the last quarter. USA Financial Formulas boosted its stake in shares of General Electric by 24,042.9% during the 4th quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in shares of General Electric by 9.3% during the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock valued at $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Finally, Rathbones Group PLC boosted its stake in shares of General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock valued at $28,821,000 after purchasing an additional 5,997 shares in the last quarter. Hedge funds and other 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.