General Electric (NYSE:GE) Stock Price Down 0% – Here’s Why

Shares of General Electric (NYSE:GE) were down 0% during mid-day trading on Tuesday . The stock traded as low as $170.78 and last traded at $172.39. Approximately 1,186,038 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 3,525,401 shares. The stock had previously closed at $172.45.

Analyst Ratings Changes

GE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Sanford C. Bernstein raised their price objective on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Northcoast Research initiated coverage on General Electric in a research report on Tuesday. They set a “neutral” rating for the company. Melius Research lifted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Finally, UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities 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.com, General Electric presently has an average rating of “Moderate Buy” and an average price target of $201.47.

General Electric Stock Up 0.5 %

The company has a market capitalization of $187.52 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.63 and a beta of 1.19. The business’s fifty day moving average price is $174.39 and its 200 day moving average price is $173.23. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. As a group, equities research analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.

Insider Transactions at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the transaction, the senior vice president now directly owns 148,857 shares in the company, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Studio Investment Management LLC raised its holdings in General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in General Electric during the 3rd quarter worth $27,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of General Electric during the 3rd quarter valued at $28,000. 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.