General Electric (NYSE:GE) Trading Down 1.3% – Here’s What Happened

General Electric (NYSE:GE)’s share price was down 1.3% on Monday . The company traded as low as $179.42 and last traded at $179.83. Approximately 730,126 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,131,130 shares. The stock had previously closed at $182.16.

Analyst Ratings Changes

A number of analysts have recently weighed in on GE shares. Royal Bank of Canada reduced 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 note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research boosted their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Trading Up 1.1 %

The business’s fifty day simple moving average is $182.67 and its 200 day simple moving average is $172.08. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $197.68 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. General Electric’s payout ratio is presently 19.68%.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 15,550 shares of the 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 sale, the senior vice president now directly 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 legal filing with the SEC, which is available at this link. 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

A number of large investors have recently bought and sold shares of GE. Studio Investment Management LLC grew its stake in shares of 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 acquiring an additional 78 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. Finally, Peterson Financial Group Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $28,000. 74.77% of the stock is owned by 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.