General Electric (NYSE:GE) Shares Down 0.4%

Shares of General Electric (NYSE:GE) were down 0.4% on Monday . The company traded as low as $183.09 and last traded at $184.59. Approximately 624,903 shares changed hands during trading, a decline of 90% from the average daily volume of 6,545,272 shares. The stock had previously closed at $185.38.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GE shares. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays lifted their price objective on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Sanford C. Bernstein began coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price for the company. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Stock Performance

The company has a market capitalization of $203.82 billion, a PE ratio of 60.52, a PEG ratio of 1.87 and a beta of 1.18. The firm has a 50-day moving average of $171.51 and a two-hundred day moving average of $169.77. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.60%. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Hedge Funds Weigh In On General Electric

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its holdings in General Electric by 10.5% during the second quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC purchased a new position in General Electric in the 2nd quarter valued at about $1,569,000. Vanguard Group Inc. boosted its holdings in General Electric by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock worth $11,288,136,000 after buying an additional 550,996 shares during the last quarter. GAMMA Investing LLC increased its stake in General Electric by 25.4% during the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of General Electric by 4.4% during the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares during the last quarter. Hedge funds and other 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.