By otakuyassine3@gmail.com 
General Electric (NYSE:GE – Get Free Report)’s stock price dropped 0.8% during trading on Wednesday . The company traded as low as $166.15 and last traded at $166.79. Approximately 2,804,751 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 6,084,345 shares. The stock had previously closed at $168.10.
Wall Street Analyst Weigh In
GE has been the subject of several recent analyst reports. Sanford C. Bernstein upped their price objective on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Citigroup upped 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. Wells Fargo & Company upped their price target on General Electric from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.93.
Check Out Our Latest Stock Analysis on General Electric
General Electric Stock Performance
The firm has a fifty day moving average of $175.11 and a 200-day moving average of $173.07. 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 firm has a market cap of $180.52 billion, a P/E ratio of 29.31, a PEG ratio of 1.66 and a beta of 1.17.
General Electric (NYSE:GE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. Research analysts predict that General Electric will post 4.24 earnings per share for the current fiscal year.
General Electric Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is currently 19.68%.
Insider Buying and Selling
In other news, SVP Russell Stokes sold 15,550 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the completion of the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Institutional Investors Weigh In On General Electric
Institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its holdings in General Electric by 117.7% during the third quarter. Catalyst Capital Advisors LLC now owns 270 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 146 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of General Electric by 10.5% during the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock worth $96,016,000 after buying an additional 57,372 shares during the last quarter. Marietta Investment Partners LLC bought a new position in shares of General Electric in the 2nd quarter valued at about $1,569,000. State Street Corp increased its position in shares of General Electric by 2.1% during the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Finally, Soltis Investment Advisors LLC raised its stake in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after buying an additional 20,575 shares during the period. 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.
Further Reading
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