General Electric (NYSE:GE) Stock Price Down 0.6% – What’s Next?

General Electric (NYSE:GE) was down 0.6% during mid-day trading on Monday . The stock traded as low as $179.85 and last traded at $180.01. Approximately 1,187,491 shares were traded during trading, a decline of 81% from the average daily volume of 6,159,488 shares. The stock had previously closed at $181.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GE. Citigroup lifted their target price on General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays upped their price target 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, Bank of America boosted their target price on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric presently has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $195.04 billion, a P/E ratio of 31.64, a P/E/G ratio of 1.78 and a beta of 1.19. The company’s 50-day simple moving average is $183.22 and its 200 day simple moving average is $171.13.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analyst estimates of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. General Electric’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. As a group, sell-side analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.

Insider Buying and Selling

In related news, SVP Riccardo Procacci sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Electric

Several large investors have recently made changes to their positions in GE. Advisors Asset Management Inc. raised its stake in shares of General Electric by 94.4% in the first quarter. Advisors Asset Management Inc. now owns 10,405 shares of the conglomerate’s stock valued at $1,826,000 after acquiring an additional 5,054 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in General Electric in the first quarter worth $299,000. Caxton Associates LP acquired a new stake in shares of General Electric in the first quarter valued at $744,000. Silvercrest Asset Management Group LLC raised its holdings in shares of General Electric by 0.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 28,358 shares of the conglomerate’s stock valued at $4,978,000 after buying an additional 102 shares during the last quarter. Finally, Waverly Advisors LLC lifted its position in General Electric by 54.1% during the 1st quarter. Waverly Advisors LLC now owns 8,891 shares of the conglomerate’s stock worth $1,561,000 after buying an additional 3,120 shares in the last quarter. Institutional investors 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.