General Electric (NYSE:GE) Stock Price Down 0.8% – Here’s What Happened

General Electric (NYSE:GE) traded down 0.8% during trading on Friday . The company traded as low as $176.48 and last traded at $176.89. 1,327,010 shares changed hands during trading, a decline of 79% from the average session volume of 6,224,957 shares. The stock had previously closed at $178.40.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GE shares. Wells Fargo & Company lifted their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Melius Research lifted their price objective on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Barclays raised their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group upped their price target on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two 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, General Electric currently has an average rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Down 0.8 %

The business’s fifty day moving average is $182.29 and its two-hundred day moving average is $170.57. The stock has a market cap of $191.49 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.81 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Equities analysts forecast that General Electric will post 4.22 earnings per share for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, September 26th. General Electric’s payout ratio is presently 19.68%.

Insider Buying and Selling

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction 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 sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

A number of institutional investors have recently bought and sold shares of GE. Toth Financial Advisory Corp purchased a new stake in General Electric during the third quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of General Electric in the 3rd quarter valued at $27,000. Peterson Financial Group Inc. purchased a new position in shares of General Electric in the 3rd quarter valued at $28,000. Finally, Studio Investment Management LLC raised its stake in 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 in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

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.