General Electric (NYSE:GE) Trading Down 1.3% – What’s Next?

General Electric (NYSE:GE) dropped 1.3% on Monday . The company traded as low as $173.02 and last traded at $173.33. Approximately 1,178,643 shares changed hands during trading, a decline of 81% from the average daily volume of 6,103,214 shares. The stock had previously closed at $175.58.

Analyst Ratings Changes

Several research firms recently issued reports on GE. 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 report on Thursday, October 3rd. Wells Fargo & Company upped their target price 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 boosted their price target on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. UBS Group raised their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Price Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business has a 50 day simple moving average of $181.76 and a 200-day simple moving average of $172.48. The firm has a market cap of $185.39 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 1.69 and a beta of 1.17.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s payout ratio is 19.68%.

Insiders Place Their Bets

In related news, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

Several large investors have recently modified their holdings of GE. Studio Investment Management LLC grew its holdings in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in General Electric in the 3rd quarter worth about $27,000. Finally, Peterson Financial Group Inc. bought a new stake in General Electric in the 3rd quarter valued at about $28,000. 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.