General Electric (NYSE:GE) Stock Price Down 2.3% – Time to Sell?

by · The Cerbat Gem

Shares of General Electric (NYSE:GE – Get Free Report) dropped 2.3% on Thursday . The company traded as low as $170.51 and last traded at $170.58. Approximately 1,198,876 shares were traded during trading, a decline of 81% from the average daily volume of 6,321,203 shares. The stock had previously closed at $174.64.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GE shares. Wells Fargo & Company increased their price objective on General Electric from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research upped their price objective on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Barclays increased their target price on shares of General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Sanford C. Bernstein boosted their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.93.

View Our Latest Stock Analysis on GE

General Electric Trading Down 0.0 %

The firm has a market cap of $185.83 billion, a P/E ratio of 30.18, a PEG ratio of 1.72 and a beta of 1.18. The company’s 50 day moving average is $180.20 and its two-hundred day moving average is $169.01. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85.

General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. General Electric’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. On average, sell-side analysts predict that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. General Electric’s payout ratio is currently 19.68%.

Hedge Funds Weigh In On General Electric

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its stake in shares of General Electric by 10.5% in the 2nd quarter. Mackenzie Financial Corp now owns 603,988 shares of the conglomerate’s stock valued at $96,016,000 after purchasing an additional 57,372 shares in the last quarter. Marietta Investment Partners LLC acquired a new position in General Electric in the second quarter valued at about $1,569,000. GAMMA Investing LLC grew its stake in General Electric by 25.4% during the second quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after buying an additional 3,442 shares during the last quarter. Senator Investment Group LP acquired a new stake in shares of General Electric during the second quarter worth approximately $34,973,000. Finally, Blair William & Co. IL raised its stake in shares of General Electric by 4.4% in the second quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate’s stock valued at $28,928,000 after acquiring an additional 7,670 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

About General Electric

(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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