General Electric (NYSE:GE) Stock Price Down 0.9% Following Insider Selling

General Electric (NYSE:GE)’s share price dropped 0.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $177.86 and last traded at $179.06. Approximately 1,148,874 shares traded hands during trading, a decline of 82% from the average daily volume of 6,280,175 shares. The stock had previously closed at $180.76.

Specifically, SVP Amy L. Gowder sold 6,958 shares of the 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 completion of the transaction, the senior vice president now directly owns 9,433 shares in the company, valued at approximately $1,534,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 13,289 shares in the company, valued at approximately $2,407,036.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GE. Melius Research upped their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Barclays lifted their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their target price on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Stock Up 3.3 %

The firm has a 50-day moving average price of $180.78 and a two-hundred day moving average price of $169.90. The firm has a market cap of $200.02 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 1.78 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.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for 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 firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. On average, sell-side analysts forecast that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Institutional Trading of General Electric

A number of large investors have recently made changes to their positions in the company. Newport Trust Company LLC acquired a new stake in shares of General Electric during the second quarter worth about $2,613,332,000. Capital World Investors raised its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after acquiring an additional 12,312,648 shares in the last quarter. Capital International Investors lifted its stake in shares of General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after purchasing an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board grew its position in General Electric by 221.6% during the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after buying an additional 4,907,530 shares during the period. Finally, Jennison Associates LLC increased its holdings in General Electric by 91.8% in the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after buying an additional 3,719,894 shares in the last quarter. 74.77% of the stock is 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.