General Electric (NYSE:GE) Trading Down 1.8%

Shares of General Electric (NYSE:GE) dropped 1.8% during mid-day trading on Monday . The stock traded as low as $156.15 and last traded at $156.15. Approximately 1,097,201 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 7,298,129 shares. The stock had previously closed at $158.97.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GE shares. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Bank of America boosted their price target on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup raised their price objective on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Electric from $148.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.93.

General Electric Trading Down 0.6 %

The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $172.94 billion, a P/E ratio of 51.20, a P/E/G ratio of 1.69 and a beta of 1.22. The firm’s 50-day moving average price is $162.36 and its 200 day moving average price is $151.59.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The firm had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same period in the previous year, the company posted $0.27 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that General Electric will post 4 earnings per share for the current year.

General Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, July 11th. General Electric’s dividend payout ratio is 36.72%.

Insider Transactions at General Electric

In other General Electric news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total transaction of $7,377,211.38. Following the transaction, the senior vice president now owns 112,958 shares of the company’s stock, valued at approximately $18,391,821.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On General Electric

Large investors have recently made changes to their positions in the business. Capital World Investors increased its position in General Electric by 2,818.1% in the first quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock worth $2,237,930,000 after buying an additional 12,312,648 shares during the last quarter. Norges Bank bought a new position in shares of General Electric during the 4th quarter worth $1,193,159,000. Capital International Investors increased its holdings in General Electric by 9.9% in the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in General Electric by 221.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock valued at $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in General Electric during the fourth quarter valued at about $520,488,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.