General Electric (NYSE:GE) Stock Price Down 0.7% – Should You Sell?

by · The Markets Daily

General Electric (NYSE:GE – Get Free Report) shares fell 0.7% during trading on Thursday . The stock traded as low as $187.58 and last traded at $187.96. 336,274 shares were traded during trading, a decline of 95% from the average session volume of 6,423,256 shares. The stock had previously closed at $189.28.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Wells Fargo & Company lifted their price objective on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays upped their target price on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $193.00.

Read Our Latest Stock Report on GE

General Electric Trading Down 0.4 %

The company has a market capitalization of $206.44 billion, a P/E ratio of 61.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The business has a fifty day moving average price of $174.62 and a 200 day moving average price of $166.37. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. On average, analysts expect that General Electric will post 4.2 earnings per share for the current fiscal year.

General Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is currently 36.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Studio Investment Management LLC boosted its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new stake in shares of General Electric during the 4th quarter worth about $32,000. Financial Connections Group Inc. acquired a new position in General Electric in the 2nd quarter valued at about $32,000. Finally, Richardson Financial Services Inc. bought a new position in General Electric in the 1st quarter valued at about $34,000. Institutional investors own 74.77% of the company’s stock.

General Electric Company Profile

(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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