General Electric (NYSE:GE) Shares Down 0%

General Electric (NYSE:GE)’s stock price fell 0% on Monday . The stock traded as low as $177.79 and last traded at $178.22. 1,224,791 shares were traded during trading, a decline of 81% from the average session volume of 6,616,045 shares. The stock had previously closed at $178.28.

Wall Street Analysts Forecast Growth

GE has been the topic of a number of recent analyst reports. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their target price on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and an average price target of $191.14.

General Electric Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The company’s fifty day moving average is $167.28 and its two-hundred day moving average is $170.87. The company has a market cap of $200.90 billion, a price-to-earnings ratio of 59.56, a P/E/G ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Newport Trust Company LLC purchased a new position in General Electric during the second quarter worth about $2,613,332,000. Capital World Investors raised its position in shares of General Electric by 2,818.1% during the 1st quarter. Capital World Investors now owns 12,749,560 shares of the conglomerate’s stock valued at $2,237,930,000 after buying an additional 12,312,648 shares during the period. Capital International Investors lifted its holdings in General Electric by 9.9% in the first quarter. Capital International Investors now owns 59,100,643 shares of the conglomerate’s stock valued at $10,373,936,000 after acquiring an additional 5,309,543 shares during the last quarter. Canada Pension Plan Investment Board grew its position in General Electric by 221.6% in the first quarter. Canada Pension Plan Investment Board now owns 7,121,741 shares of the conglomerate’s stock worth $1,250,079,000 after acquiring an additional 4,907,530 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in General Electric during the second quarter worth $580,200,000. 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.