General Electric (NYSE:GE) Shares Down 0.3%

Shares of General Electric (NYSE:GE) traded down 0.3% during trading on Monday . The stock traded as low as $161.52 and last traded at $163.70. 853,134 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 7,362,256 shares. The stock had previously closed at $164.24.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $180.00 in a research report on Tuesday, April 9th. Argus increased their target price on shares of General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of General Electric from $191.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group increased their target price on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.27.

General Electric Trading Up 0.6 %

The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The firm’s 50 day simple moving average is $161.89 and its two-hundred day simple moving average is $150.77. The stock has a market cap of $175.84 billion, a P/E ratio of 52.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, equities research analysts predict that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, July 11th. General Electric’s payout ratio is 36.72%.

Insiders Place Their Bets

In other news, SVP Russell Stokes sold 45,309 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently added to or reduced their stakes in the company. Choate Investment Advisors grew its stake in shares of General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock worth $2,808,000 after buying an additional 65 shares during the last quarter. Walker Asset Management LLC grew its stake in shares of General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the last quarter. Global Financial Private Client LLC boosted its stake in General Electric by 3.8% during the 1st quarter. Global Financial Private Client LLC now owns 1,956 shares of the conglomerate’s stock valued at $343,000 after purchasing an additional 71 shares during the last quarter. BKM Wealth Management LLC boosted its stake in General Electric by 2.6% during the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after purchasing an additional 72 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in General Electric by 1.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock valued at $663,000 after purchasing an additional 72 shares during the last quarter. 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.