General Electric (NYSE:GE) Shares Down 0.9% – What’s Next?

General Electric (NYSE:GE) was down 0.9% during trading on Tuesday . The company traded as low as $163.53 and last traded at $164.26. Approximately 948,561 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,114,540 shares. The stock had previously closed at $165.79.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Melius Research increased their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America increased their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.93.

General Electric Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The business’s 50 day moving average price is $178.88 and its 200 day moving average price is $172.43. The firm has a market cap of $178.36 billion, a PE ratio of 28.96, a PEG ratio of 1.66 and a beta of 1.17.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating 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%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. On average, equities research analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, December 27th. General Electric’s payout ratio is 19.68%.

Insider Activity

In other 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 transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. 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 added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric in the 3rd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. purchased a new stake in General Electric in the third quarter valued at approximately $28,000. Finally, Studio Investment Management LLC boosted its position in shares of 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 period. 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.