General Electric (NYSE:GE) Stock Price Down 2.2% – Time to Sell?

Shares of General Electric (NYSE:GE) fell 2.2% during trading on Thursday . The company traded as low as $180.44 and last traded at $180.60. 2,726,189 shares were traded during mid-day trading, a decline of 56% from the average session volume of 6,172,569 shares. The stock had previously closed at $184.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GE shares. UBS Group lifted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Melius Research upped their price objective on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 2.2 %

The business has a fifty day moving average price of $183.23 and a 200-day moving average price of $171.44. 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 cap of $195.46 billion, a P/E ratio of 31.74, a PEG ratio of 1.77 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the previous year, the company posted $0.82 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.24 earnings per share for the current year.

General Electric Dividend Announcement

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

Insider Buying and Selling at General Electric

In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new position in General Electric during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of General Electric in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric in the 3rd quarter worth $27,000. Peterson Financial Group Inc. bought a new stake in General Electric during the 3rd quarter valued at $28,000. Finally, Studio Investment Management LLC raised its holdings in shares of General Electric by 97.5% in the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during 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.