General Electric (NYSE:GE) Stock Price Down 0.3%

General Electric (NYSE:GE)’s share price dropped 0.3% during trading on Monday . The stock traded as low as $165.88 and last traded at $166.62. Approximately 812,922 shares were traded during trading, a decline of 88% from the average daily volume of 7,004,205 shares. The stock had previously closed at $167.13.

Analysts Set New Price Targets

GE has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. increased their price target on General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Bank of America lifted their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Down 0.4 %

The stock’s 50-day moving average is $162.56 and its 200-day moving average is $159.21. The company has a market cap of $182.23 billion, a price-to-earnings ratio of 54.54, a P/E/G ratio of 1.70 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 4.15 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently made changes to their positions in GE. Capital World Investors lifted its stake 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 during the last quarter. Norges Bank acquired a new stake in General Electric during the 4th quarter worth $1,193,159,000. Capital International Investors increased its stake in shares of General Electric by 9.9% during the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of General Electric by 221.6% during the 1st 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of General Electric in the 2nd quarter worth approximately $580,200,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

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.