General Electric (NYSE:GE) Trading Down 0.1%

General Electric (NYSE:GE)’s stock price fell 0.1% on Friday . The company traded as low as $172.53 and last traded at $173.41. 630,717 shares changed hands during trading, a decline of 91% from the average session volume of 6,729,153 shares. The stock had previously closed at $173.58.

Analysts Set New Price Targets

Several brokerages recently weighed in on GE. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com downgraded General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

General Electric Stock Down 1.0 %

The firm has a 50 day moving average of $164.81 and a 200 day moving average of $162.20. The firm has a market cap of $188.18 billion, a price-to-earnings ratio of 56.86, a PEG ratio of 1.70 and a beta of 1.21. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, sell-side analysts predict that General Electric will post 4.15 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.65%. General Electric’s payout ratio is currently 36.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Newport Trust Company LLC bought a new position in shares of General Electric in the second quarter valued at approximately $2,613,332,000. Capital World Investors lifted its holdings in shares of General Electric by 2,818.1% in the first 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 bought a new position in shares of General Electric in the fourth quarter valued at approximately $1,193,159,000. Capital International Investors lifted its holdings in shares of General Electric by 9.9% in the first 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. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of General Electric by 221.6% in the first 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. Institutional investors own 74.77% of the company’s stock.

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.