General Electric (NYSE:GE) Stock Price Down 1.1% – Here’s Why

General Electric (NYSE:GE)’s share price fell 1.1% during mid-day trading on Tuesday . The stock traded as low as $189.76 and last traded at $190.45. 979,550 shares changed hands during trading, a decline of 85% from the average session volume of 6,371,956 shares. The stock had previously closed at $192.63.

Analyst Ratings Changes

A number of equities analysts recently commented on GE shares. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised 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 upped their price objective on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, 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 research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and an average target price of $196.86.

General Electric Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average price is $176.30 and its 200 day moving average price is $166.63. The firm has a market cap of $208.87 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

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

General Electric Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. General Electric’s payout ratio is presently 36.72%.

Institutional Trading of General Electric

A number of large investors have recently bought and sold shares of the stock. Studio Investment Management LLC grew its stake in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric during the 2nd quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new stake in General Electric during the 4th quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in General Electric during the 2nd quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter valued at $34,000. 74.77% of the stock is currently owned by institutional investors.

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.