General Electric (NYSE:GE) Trading Up 0% – Here’s Why

General Electric (NYSE:GE)’s share price was up 0% during mid-day trading on Friday . The stock traded as high as $181.42 and last traded at $179.77. Approximately 791,666 shares changed hands during trading, a decline of 88% from the average daily volume of 6,351,648 shares. The stock had previously closed at $179.74.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. Royal Bank of Canada cut their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America raised their price objective on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their target price on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.93.

General Electric Trading Down 0.4 %

The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The company has a market cap of $194.20 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.74 and a beta of 1.18. The business has a 50-day moving average price of $179.90 and a two-hundred day moving average price of $168.48.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm had revenue of $9.84 billion during the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. On average, analysts predict 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 was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. General Electric’s payout ratio is presently 19.68%.

Institutional Trading of General Electric

Several institutional investors and hedge funds have recently made changes to their positions in the business. Studio Investment Management LLC grew its stake in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp bought a new position in General Electric during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric during the 3rd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at approximately $32,000. 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.