General Electric (NYSE:GE) Shares Down 0.1%

General Electric (NYSE:GE) traded down 0.1% during trading on Monday . The stock traded as low as $168.40 and last traded at $169.63. 1,255,805 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,124,587 shares. The stock had previously closed at $169.81.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Citigroup boosted their price target 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. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised shares of General Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $180.00 in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.93.

General Electric Trading Up 0.5 %

The firm has a market cap of $185.00 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company has a 50 day moving average price of $162.35 and a 200 day moving average price of $156.68.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. On average, research analysts expect that General Electric will post 4.13 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio is presently 36.72%.

Insider Transactions at General Electric

In other news, SVP Russell Stokes sold 45,309 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. Vanguard Group Inc. raised its position in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares in the last quarter. Capital International Investors raised its position in General Electric by 9.9% in the 1st 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 in the last quarter. Capital World Investors raised its position in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after purchasing an additional 12,312,648 shares in the last quarter. Norges Bank acquired a new stake in General Electric in the 4th quarter valued at about $1,193,159,000. Finally, Canada Pension Plan Investment Board raised its position in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after purchasing an additional 4,907,530 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other 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.