General Electric (NYSE:GE) Trading Down 0%

General Electric (NYSE:GE)’s share price traded down 0% during mid-day trading on Monday . The company traded as low as $177.79 and last traded at $178.22. 1,224,791 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 6,616,045 shares. The stock had previously closed at $178.28.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, UBS Group boosted their target price on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $191.14.

General Electric Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $200.90 billion, a price-to-earnings ratio of 59.56, a PEG ratio of 1.65 and a beta of 1.18. The firm’s fifty day simple moving average is $167.28 and its 200 day simple moving average is $170.87.

General Electric (NYSE:GE) last issued its quarterly earnings data 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The firm also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Institutional Trading of General Electric

Several hedge funds and other institutional investors have recently modified their holdings of the company. Newport Trust Company LLC bought a new stake in General Electric during the 2nd quarter worth about $2,613,332,000. Capital World Investors raised its stake in General Electric by 2,818.1% in the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after acquiring an additional 12,312,648 shares during the period. Capital International Investors lifted its stake in shares of General Electric by 9.9% during the 1st quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock worth $10,373,936,000 after buying an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board boosted 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 purchasing an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of General Electric in the second quarter valued at about $580,200,000. 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.