General Electric (NYSE:GE) Stock Price Down 0%

General Electric (NYSE:GE) shares dropped 0% during mid-day trading on Monday . The company traded as low as $177.79 and last traded at $178.22. Approximately 1,224,791 shares changed hands during trading, a decline of 81% from the average daily volume of 6,616,045 shares. The stock had previously closed at $178.28.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GE shares. StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their price target on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays upped their price objective on General Electric from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Royal Bank of Canada increased their target price 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. Two investment 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, General Electric has an average rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Trading Up 1.2 %

The firm has a market capitalization of $197.58 billion, a price-to-earnings ratio of 58.43, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The business’s 50 day moving average price is $166.57 and its 200-day moving average price is $171.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85.

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

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, July 11th. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

Hedge Funds Weigh In On General Electric

Institutional investors have recently made changes to their positions in the stock. Studio Investment Management LLC lifted its stake in shares of General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock valued at $25,000 after buying an additional 78 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of General Electric in the second quarter valued at $31,000. Kapitalo Investimentos Ltda acquired a new position in General Electric in the fourth quarter valued at $32,000. Financial Connections Group Inc. purchased a new position in General Electric during the second quarter worth about $32,000. Finally, Richardson Financial Services Inc. purchased a new position in General Electric during the first quarter worth about $34,000. 74.77% of the stock is owned by institutional investors and hedge funds.

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.