General Electric (NYSE:GE) Stock Price Down 0.6% – Time to Sell?

General Electric (NYSE:GE) shares fell 0.6% during trading on Thursday . The stock traded as low as $182.02 and last traded at $182.41. 889,664 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,228,945 shares. The stock had previously closed at $183.56.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their price target on General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on shares of General Electric from $198.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.93.

General Electric Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $181.69 and its 200-day simple moving average is $170.43. The firm has a market cap of $193.66 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, sell-side analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. General Electric’s payout ratio is 19.68%.

Insider Transactions at General Electric

In related news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On General Electric

Several institutional investors and hedge funds have recently bought and sold shares of GE. CWS Financial Advisors LLC acquired a new stake in General Electric during the third quarter worth about $237,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of General Electric during the 3rd quarter worth about $304,000. Vinva Investment Management Ltd grew its position in shares of General Electric by 218.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 20,366 shares of the conglomerate’s stock valued at $3,775,000 after acquiring an additional 13,965 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of General Electric by 6.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,556,515 shares of the conglomerate’s stock valued at $1,236,428,000 after purchasing an additional 413,388 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in General Electric by 719.9% in the third quarter. Public Sector Pension Investment Board now owns 345,886 shares of the conglomerate’s stock valued at $65,227,000 after purchasing an additional 303,700 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

About General Electric

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.