General Electric (NYSE:GE) Shares Down 0.6%

General Electric (NYSE:GE)’s stock price was down 0.6% during trading on Wednesday . The stock traded as low as $165.62 and last traded at $166.98. Approximately 1,417,557 shares were traded during trading, a decline of 80% from the average daily volume of 6,955,644 shares. The stock had previously closed at $167.96.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GE. JPMorgan Chase & Co. increased their price target on General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group boosted their target price on shares of General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Down 0.4 %

The business’s 50-day moving average price is $162.80 and its 200-day moving average price is $159.73. The firm has a market capitalization of $183.06 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21. 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 issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (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 company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders 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 annualized dividend and a dividend yield of 0.67%. General Electric’s dividend payout ratio is 36.72%.

Insider Activity at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the 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 document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Studio Investment Management LLC raised its holdings in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter worth about $27,000. Capital Analysts LLC boosted its stake in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 87 shares during the period. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter valued at approximately $31,000. Finally, Bfsg LLC acquired a new stake in General Electric in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds 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.