General Electric (NYSE:GE) Stock Price Down 0.4%

General Electric (NYSE:GE) shares dropped 0.4% during mid-day trading on Tuesday . The stock traded as low as $179.61 and last traded at $180.79. Approximately 2,092,926 shares traded hands during trading, a decline of 68% from the average daily volume of 6,620,611 shares. The stock had previously closed at $181.44.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group upped their price target 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. Sanford C. Bernstein assumed coverage on shares of General Electric in a research note on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price objective for the company. Wells Fargo & Company raised their target price on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group upped their price target on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Barclays increased their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Stock Performance

The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $203.77 billion, a P/E ratio of 61.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business’s 50 day simple moving average is $168.12 and its two-hundred day simple moving average is $171.06.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. Sell-side analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Studio Investment Management LLC boosted its stake in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in General Electric during the second quarter valued at about $31,000. Kapitalo Investimentos Ltda bought a new stake in General Electric during the fourth quarter valued at about $32,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter worth about $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of General Electric in the first quarter worth about $34,000. 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.