General Electric (NYSE:GE) Trading Down 1.6%

General Electric (NYSE:GE) shares traded down 1.6% during trading on Tuesday . The stock traded as low as $185.10 and last traded at $185.60. 1,024,303 shares traded hands during trading, a decline of 84% from the average session volume of 6,541,536 shares. The stock had previously closed at $188.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GE shares. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Royal Bank of Canada raised their price objective on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $210.00 to $212.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, UBS Group lifted their price target on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, General Electric currently has a consensus rating of “Moderate Buy” and an average target price of $191.36.

General Electric Stock Down 0.8 %

The stock has a market capitalization of $204.86 billion, a PE ratio of 60.85, a P/E/G ratio of 1.87 and a beta of 1.18. The stock’s fifty day simple moving average is $172.02 and its 200-day simple moving average is $169.63. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, sell-side analysts forecast that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. General Electric’s payout ratio is presently 36.72%.

Hedge Funds Weigh In On General Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macroview Investment Management LLC lifted its holdings in General Electric by 37.9% during the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD boosted its position in shares of General Electric by 1.4% in the second quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after acquiring an additional 61 shares during the period. New England Research & Management Inc. grew its stake in General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares in the last quarter. Certified Advisory Corp increased its holdings in General Electric by 1.0% during the 2nd quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock worth $1,045,000 after acquiring an additional 63 shares during the period. Finally, Argent Trust Co lifted its stake in General Electric by 0.6% in the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock worth $1,707,000 after purchasing an additional 64 shares in 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.