General Electric (NYSE:GE) Trading Down 0.4% – Should You Sell?

General Electric (NYSE:GE)’s stock price dropped 0.4% on Friday . The company traded as low as $191.14 and last traded at $191.78. Approximately 855,848 shares were traded during trading, a decline of 86% from the average daily volume of 6,323,099 shares. The stock had previously closed at $192.62.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup upped their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. 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 report on Wednesday, July 24th. Finally, Barclays upped their target price on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Stock Down 0.1 %

The stock has a market cap of $210.66 billion, a price-to-earnings ratio of 62.88, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $178.01 and its two-hundred day moving average is $167.09.

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

General Electric Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

Hedge Funds Weigh In On General Electric

Several institutional investors have recently added to or reduced their stakes in the business. Tsfg LLC boosted its holdings in shares of General Electric by 12.8% in the third quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock valued at $92,000 after acquiring an additional 55 shares in the last quarter. Macroview Investment Management LLC lifted its position in General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC boosted its stake in General Electric by 2.6% during the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Allegheny Financial Group LTD increased its position in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock valued at $714,000 after purchasing an additional 61 shares during the period. Finally, New England Research & Management Inc. raised its stake in shares of General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after buying an additional 63 shares in the last quarter. 74.77% of the stock is currently 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.