General Electric (NYSE:GE) Stock Price Down 1.1%

General Electric (NYSE:GE) shares traded down 1.1% during mid-day trading on Thursday . The company traded as low as $163.40 and last traded at $164.55. 915,036 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,702,194 shares. The stock had previously closed at $166.36.

Analyst Upgrades and Downgrades

A number of analysts have 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 research report on Monday, July 1st. Royal Bank of Canada boosted their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.38.

General Electric Stock Down 1.7 %

The business has a fifty day moving average price of $165.67 and a two-hundred day moving average price of $163.09. The firm has a market cap of $179.09 billion, a PE ratio of 53.95, a P/E/G ratio of 1.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for 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 business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. On average, analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Institutional Investors Weigh In On General Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Studio Investment Management LLC boosted its holdings in General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Kapitalo Investimentos Ltda acquired a new position in shares of General Electric during the 4th quarter valued at about $32,000. Financial Connections Group Inc. bought a new position in shares of General Electric in the 2nd quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. acquired a new stake in General Electric in the 1st quarter worth approximately $34,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.