General Electric (NYSE:GE) Trading Down 1.3% – Here’s Why

Shares of General Electric (NYSE:GE) were down 1.3% during mid-day trading on Monday . The stock traded as low as $179.42 and last traded at $179.83. Approximately 730,126 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 6,131,130 shares. The stock had previously closed at $182.16.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Sanford C. Bernstein increased their target price on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group raised their price target on shares of General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.93.

General Electric Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $195.32 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.79 and a beta of 1.19. The business’s 50-day simple moving average is $183.01 and its two-hundred day simple moving average is $171.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping 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 return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. On average, research analysts anticipate that General Electric will post 4.24 earnings per share for the current fiscal year.

General Electric Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Riccardo Procacci sold 7,000 shares of the business’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 sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Russell Stokes sold 15,550 shares of General Electric stock in a transaction that occurred on 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 approximately $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 owned by corporate insiders.

Institutional Investors Weigh In On General Electric

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in shares of General Electric by 206.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate’s stock worth $278,247,000 after purchasing an additional 973,135 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of General Electric by 0.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 48,843 shares of the conglomerate’s stock worth $9,211,000 after buying an additional 278 shares during the period. Tidal Investments LLC increased its position in General Electric by 33.2% in the 3rd quarter. Tidal Investments LLC now owns 67,199 shares of the conglomerate’s stock worth $12,672,000 after buying an additional 16,760 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of General Electric by 188.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 41,004 shares of the conglomerate’s stock worth $7,733,000 after buying an additional 26,770 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 5,162 shares during the period. 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.