General Electric (NYSE:GE) Trading Down 1.1% – What’s Next?

General Electric (NYSE:GE)’s stock price fell 1.1% during trading on Wednesday . The company traded as low as $168.34 and last traded at $169.37. 1,522,952 shares were traded during trading, a decline of 75% from the average session volume of 6,102,083 shares. The stock had previously closed at $171.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on General Electric from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup raised their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.93.

General Electric Stock Performance

The firm has a market cap of $179.67 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. The stock’s 50-day moving average price is $180.72 and its 200 day moving average price is $172.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE) last posted 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 company had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In other General Electric news, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 148,857 shares in the company, valued at $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction 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 $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. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Hedge funds have recently bought and sold shares of the business. Tsfg LLC increased its position in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Macroview Investment Management LLC raised its position in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Strategic Advisors LLC lifted its holdings in shares of General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of General Electric by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after acquiring an additional 60 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its stake in General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

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.