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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Melius Research raised their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. UBS Group boosted their price target 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. Citigroup raised their price objective on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

The stock has a market cap of $195.47 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19. The company’s 50 day moving average is $183.23 and its 200 day moving average is $171.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. Research analysts forecast that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at General Electric

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

Institutional Investors Weigh In On General Electric

Several institutional investors have recently bought and sold shares of GE. Silvercrest Asset Management Group LLC grew its stake in shares of General Electric by 0.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after buying an additional 102 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of General Electric by 38.7% during the first quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock valued at $26,280,000 after purchasing an additional 41,795 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of General Electric by 13.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock worth $3,564,000 after purchasing an additional 2,420 shares in the last quarter. Comerica Bank boosted its stake in shares of General Electric by 1.0% in the first quarter. Comerica Bank now owns 215,115 shares of the conglomerate’s stock valued at $37,759,000 after purchasing an additional 2,052 shares during the period. Finally, Beacon Capital Management LLC boosted its stake in shares of General Electric by 32.8% in the first quarter. Beacon Capital Management LLC now owns 498 shares of the conglomerate’s stock valued at $87,000 after purchasing an additional 123 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.