General Electric (NYSE:GE) Stock Price Down 1.8% – Here’s Why

General Electric (NYSE:GE)’s share price dropped 1.8% on Wednesday . The stock traded as low as $180.75 and last traded at $181.29. Approximately 669,942 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 6,163,153 shares. The stock had previously closed at $184.60.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Melius Research increased their target price on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Bank of America lifted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price objective on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price 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. 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 has an average rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

The company has a market capitalization of $195.46 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The business has a fifty day moving average price of $183.29 and a 200 day moving average price of $171.37. 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 posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 11.48% and a return on equity of 18.93%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. On average, research analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the transaction, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Silvercrest Asset Management Group LLC boosted its stake in shares of General Electric by 0.4% during the 1st 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 during the period. Janus Henderson Group PLC grew its stake in shares of General Electric by 38.7% in the 1st quarter. Janus Henderson Group PLC now owns 149,769 shares of the conglomerate’s stock valued at $26,280,000 after buying an additional 41,795 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in General Electric by 13.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,303 shares of the conglomerate’s stock worth $3,564,000 after buying an additional 2,420 shares during the last quarter. Comerica Bank lifted its stake in 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 acquiring an additional 2,052 shares during the last quarter. Finally, Beacon Capital Management LLC grew its position in General Electric by 32.8% in the first quarter. Beacon Capital Management LLC now owns 498 shares of the conglomerate’s stock worth $87,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.