General Electric (NYSE:GE) Shares Down 1.7%

General Electric (NYSE:GEGet Free Report) was down 1.7% during trading on Tuesday . The stock traded as low as $158.59 and last traded at $158.68. Approximately 1,260,900 shares changed hands during trading, a decline of 83% from the average daily volume of 7,478,932 shares. The stock had previously closed at $161.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GE shares. Wells Fargo & Company increased their target price on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Bank of America lifted their price objective on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup boosted their target price on shares of General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Electric from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group boosted their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.00.

Check Out Our Latest Stock Report on General Electric

General Electric Stock Performance

The company’s 50-day moving average is $160.72 and its two-hundred day moving average is $146.51. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a market cap of $177.94 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.23.

General Electric (NYSE:GEGet Free Report) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. Equities analysts predict that General Electric will post 3.98 EPS for the current year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s payout ratio is presently 36.72%.

Insider Activity

In related news, SVP Russell Stokes sold 45,309 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Choate Investment Advisors grew its holdings in shares of General Electric by 0.4% in the first quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after purchasing an additional 65 shares in the last quarter. Walker Asset Management LLC increased its holdings in shares of General Electric by 1.7% in the 1st quarter. Walker Asset Management LLC now owns 4,111 shares of the conglomerate’s stock worth $722,000 after buying an additional 70 shares during the last quarter. Global Financial Private Client LLC raised its position in shares of General Electric by 3.8% during the 1st quarter. Global Financial Private Client LLC now owns 1,956 shares of the conglomerate’s stock valued at $343,000 after buying an additional 71 shares in the last quarter. BKM Wealth Management LLC lifted its holdings in shares of General Electric by 2.6% in the 1st quarter. BKM Wealth Management LLC now owns 2,821 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 72 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in General Electric by 1.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,777 shares of the conglomerate’s stock worth $663,000 after acquiring an additional 72 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Company Profile

(Get Free Report)

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.

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