General Electric (NYSE:GE) Shares Down 0.2% – Here’s What Happened

General Electric (NYSE:GE) fell 0.2% during trading on Monday . The stock traded as low as $184.05 and last traded at $184.48. 660,794 shares traded hands during trading, a decline of 89% from the average session volume of 6,265,607 shares. The stock had previously closed at $184.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GE shares. Melius Research boosted their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Sanford C. Bernstein boosted their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup raised 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. 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 report on Wednesday, October 23rd. Finally, Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

The company has a market capitalization of $198.64 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. 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 stock’s 50 day simple moving average is $181.35 and its 200-day simple moving average is $170.33.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

Several large investors have recently bought and sold shares of GE. Catalyst Capital Advisors LLC increased its holdings in shares of General Electric by 117.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 146 shares during the last quarter. Mackenzie Financial Corp increased its stake in General Electric by 10.5% in the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC purchased a new position in General Electric in the second quarter valued at approximately $1,569,000. GAMMA Investing LLC raised its holdings in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Senator Investment Group LP purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $34,973,000. Hedge funds and other 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.