General Electric (NYSE:GE) Trading Down 0.9% on Insider Selling

General Electric (NYSE:GE) shares were down 0.9% during mid-day trading on Thursday following insider selling activity. The company traded as low as $177.86 and last traded at $179.06. Approximately 1,148,874 shares were traded 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 business’s stock in a transaction dated Saturday, June 1st. The shares were sold at an average price of $162.71, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the business’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 transaction, the senior vice president now owns 13,289 shares in the company, valued at approximately $2,407,036.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GE shares. Bank of America boosted their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lowered 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 note on Wednesday, October 23rd. Citigroup upped their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group upped their target price on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $200.93.

General Electric Price Performance

The stock’s 50-day moving average price is $180.78 and its 200-day moving average price is $169.90. The company has a market capitalization 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 quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

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 the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. 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 prior year, the business posted $0.82 earnings per share. General Electric’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

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

Hedge Funds Weigh In On General Electric

Large investors have recently bought and sold shares of the business. Toth Financial Advisory Corp acquired a new position in General Electric in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in General Electric in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in General Electric in the third quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new stake in General Electric in the third quarter valued at approximately $28,000. Finally, Studio Investment Management LLC increased its stake in General Electric by 97.5% in 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 in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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.