Insider Selling: General Electric (NYSE:GE) SVP Sells 6,958 Shares of Stock

General Electric (NYSE:GE) SVP Amy L. Gowder sold 6,958 shares of General Electric stock in a transaction that occurred on Saturday, June 1st. The stock was sold at an average price of $162.71, for a total value of $1,132,136.18. Following the transaction, the senior vice president now owns 9,433 shares in the company, valued at approximately $1,534,843.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

General Electric Trading Down 1.1 %

General Electric stock traded down $1.91 during midday trading on Thursday, reaching $178.85. The stock had a trading volume of 4,794,353 shares, compared to its average volume of 6,297,571. General Electric has a twelve month low of $89.59 and a twelve month high of $194.80. The stock has a market capitalization of $193.57 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. 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 stock’s 50-day simple moving average is $180.47 and its 200 day simple moving average is $169.59.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.02 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. 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 0.63%. General Electric’s payout ratio is currently 19.68%.

Analysts Set New Price Targets

GE has been the subject of several recent analyst reports. Bank of America raised their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup boosted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

Hedge Funds Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Drive Wealth Management LLC boosted its position in shares of General Electric by 6.9% during the third quarter. Drive Wealth Management LLC now owns 2,543 shares of the conglomerate’s stock worth $480,000 after buying an additional 165 shares during the period. Aviso Wealth Management boosted its position in shares of General Electric by 96.9% during the third quarter. Aviso Wealth Management now owns 2,825 shares of the conglomerate’s stock worth $533,000 after buying an additional 1,390 shares during the period. LMR Partners LLP boosted its position in shares of General Electric by 36.3% during the third quarter. LMR Partners LLP now owns 156,238 shares of the conglomerate’s stock worth $29,463,000 after buying an additional 41,594 shares during the period. Quest Partners LLC boosted its position in shares of General Electric by 126.0% during the third quarter. Quest Partners LLC now owns 5,156 shares of the conglomerate’s stock worth $972,000 after buying an additional 2,875 shares during the period. Finally, Aljian Capital Management LLC acquired a new position in shares of General Electric during the third quarter worth approximately $764,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.