General Electric (NYSE:GE) Stock Price Down 0.3%

General Electric (NYSE:GE)’s share price traded down 0.3% during trading on Friday . The stock traded as low as $160.31 and last traded at $160.72. 1,737,391 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,059,399 shares. The stock had previously closed at $161.26.

Wall Street Analyst Weigh In

GE has been the topic of several recent research reports. Citigroup increased their target price on General Electric from $120.43 to $186.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $180.00 in a research report on Tuesday, April 9th. Jefferies Financial Group dropped their target price on General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada increased their target price on General Electric from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Argus increased their target price on General Electric from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.00.

General Electric Stock Up 0.7 %

The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $160.45 and its 200 day simple moving average is $135.73. The firm has a market capitalization of $177.71 billion, a PE ratio of 53.23, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29.

General Electric (NYSE:GE) last announced 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. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that General Electric will post 3.95 earnings per share for the current fiscal year.

General Electric Increases Dividend

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

Insider Activity at General Electric

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

Institutional Trading of General Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of GE. DAVENPORT & Co LLC increased its position in General Electric by 6.9% in the third quarter. DAVENPORT & Co LLC now owns 26,440 shares of the conglomerate’s stock worth $2,923,000 after buying an additional 1,706 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of General Electric by 25.8% during the third quarter. Avior Wealth Management LLC now owns 3,872 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 794 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of General Electric by 23.9% during the third quarter. GHP Investment Advisors Inc. now owns 1,344 shares of the conglomerate’s stock worth $147,000 after purchasing an additional 259 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of General Electric by 9.2% during the third quarter. CreativeOne Wealth LLC now owns 3,493 shares of the conglomerate’s stock worth $386,000 after purchasing an additional 293 shares in the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of General Electric by 10.5% during the third quarter. Strategic Blueprint LLC now owns 2,465 shares of the conglomerate’s stock worth $273,000 after purchasing an additional 234 shares in 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.