General Electric (NYSE:GE) Stock Price Down 0.4%

Shares of General Electric (NYSE:GE) fell 0.4% during mid-day trading on Tuesday . The stock traded as low as $179.61 and last traded at $180.79. 2,092,926 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 6,620,611 shares. The stock had previously closed at $181.44.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada upped their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Sanford C. Bernstein initiated coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 target price on the stock. Barclays increased 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. Finally, UBS Group raised 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. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and an average price target of $191.14.

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 company has a market cap of $197.40 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 1.65 and a beta of 1.18. The firm’s 50-day moving average price is $166.93 and its 200 day moving average price is $171.00.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s payout ratio is presently 36.72%.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently modified their holdings of GE. Studio Investment Management LLC lifted its stake in General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda bought a new stake in General Electric during the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in General Electric during the second quarter worth approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric during the 1st quarter worth approximately $34,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.