General Electric (NYSE:GE) Stock Price Down 0.6% – Here’s What Happened

General Electric (NYSE:GE)’s stock price was down 0.6% on Monday . The stock traded as low as $179.85 and last traded at $180.01. Approximately 1,187,491 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,159,488 shares. The stock had previously closed at $181.15.

Analyst Ratings Changes

Several equities analysts have issued reports on GE shares. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Bank of America upped their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group raised their target price on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Performance

The stock has a 50 day simple moving average of $183.22 and a 200 day simple moving average of $171.13. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $195.04 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.78 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, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. As a group, analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. General Electric’s dividend payout ratio is currently 19.68%.

Insider Activity

In other news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp acquired a new stake in shares of General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the third quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in shares of General Electric during the third quarter worth about $28,000. Finally, Studio Investment Management LLC increased its holdings in shares of 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. 74.77% of the stock is 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.