General Electric (NYSE:GE) Stock Price Down 0.1%

Shares of General Electric (NYSE:GE) fell 0.1% on Thursday . The company traded as low as $157.12 and last traded at $158.99. 1,862,756 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 8,087,755 shares. The stock had previously closed at $159.19.

Analyst Ratings Changes

A number of brokerages recently weighed in on GE. The Goldman Sachs Group lifted their price objective on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday. Argus boosted their price target on shares of General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America boosted their price target on shares of General Electric from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen 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 target price of $170.00.

General Electric Stock Performance

The firm’s 50-day moving average is $160.72 and its 200 day moving average is $136.09. The stock has a market cap of $177.67 billion, a PE ratio of 53.22, a P/E/G ratio of 3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.17.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company 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%. General Electric’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, research analysts anticipate that General Electric will post 3.95 EPS for the current year.

General Electric Increases Dividend

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

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the completion of the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On General Electric

A number of large investors have recently made changes to their positions in the stock. CreativeOne Wealth LLC grew its stake in General Electric by 9.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,493 shares of the conglomerate’s stock valued at $386,000 after acquiring an additional 293 shares during the last quarter. Strategic Blueprint LLC grew its stake in General Electric by 10.5% in the 3rd quarter. Strategic Blueprint LLC now owns 2,465 shares of the conglomerate’s stock valued at $273,000 after acquiring an additional 234 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in General Electric by 6.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 7,552 shares of the conglomerate’s stock valued at $835,000 after acquiring an additional 461 shares during the last quarter. Investment Research & Advisory Group Inc. boosted its stake in shares of General Electric by 1.7% during the 3rd quarter. Investment Research & Advisory Group Inc. now owns 13,011 shares of the conglomerate’s stock worth $1,438,000 after purchasing an additional 222 shares during the last quarter. Finally, Merrion Investment Management Co LLC boosted its stake in shares of General Electric by 3.1% during the 3rd quarter. Merrion Investment Management Co LLC now owns 3,300 shares of the conglomerate’s stock worth $365,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other 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.