General Electric (NYSE:GE) Stock Price Down 1.8%

General Electric (NYSE:GE)’s stock price dropped 1.8% during mid-day trading on Monday . The company traded as low as $156.15 and last traded at $156.15. Approximately 1,097,201 shares changed hands during 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 Analysts Forecast Growth

Several equities research analysts recently issued reports on GE shares. Argus boosted their price target on General Electric from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and boosted their price target for the company from $175.00 to $180.00 in a research note on Tuesday, April 9th. StockNews.com started coverage on General Electric in a research note on Monday, April 29th. They issued a “hold” rating for the company. Finally, Citigroup boosted their price objective on shares of General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

General Electric Stock Up 1.6 %

The company has a market cap of $176.75 billion, a P/E ratio of 52.94, a PEG ratio of 1.69 and a beta of 1.22. The stock’s 50-day moving average price is $162.53 and its 200-day moving average price is $151.85. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

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

General Electric Dividend Announcement

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 paid a $0.28 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.69%. General Electric’s dividend payout ratio (DPR) is 36.72%.

Insider Buying and Selling at General Electric

In related 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 value of $7,377,211.38. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC grew its position in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after acquiring an additional 6,419 shares in the last quarter. Fifth Third Bancorp raised its stake in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after buying an additional 28,985 shares in the last quarter. USA Financial Formulas raised its stake in General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock worth $1,294,000 after buying an additional 10,098 shares in the last quarter. Grandfield & Dodd LLC raised its stake in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after buying an additional 22,998 shares in the last quarter. Finally, Rathbones Group PLC raised its stake in General Electric by 2.7% in the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after buying an additional 5,997 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

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.