General Electric (NYSE:GE) Shares Gap Down - What's Next?

General Electric (NYSE:GE - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $194.23, but opened at $184.50. General Electric shares last traded at $181.24, with a volume of 3,061,117 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on GE shares. Royal Bank of Canada increased their target price on General Electric from $190.00 to $210.00 in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, June 28th. Citigroup boosted their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. UBS Group increased their price target on shares of General Electric from $201.00 to $209.00 and gave the company a "buy" rating in a research note on Monday, July 1st. Finally, Wells Fargo & Company boosted their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.53.

General Electric Stock Down 9.1 %

The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $193.30 billion, a P/E ratio of 57.90, a P/E/G ratio of 1.86 and a beta of 1.18. The business has a fifty day moving average of $179.24 and a 200 day moving average of $168.05.

General Electric (NYSE:GE - Get Free Report) last announced its quarterly 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. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company had revenue of $9.09 billion during the quarter, compared to analysts' expectations of $8.44 billion. During the same period in the prior year, the business posted $0.68 EPS. General Electric's revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, September 26th. General Electric's payout ratio is presently 36.72%.

Institutional Trading of General Electric

Hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised 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 during the period. Marietta Investment Partners LLC acquired a new stake in General Electric in the 2nd quarter valued at approximately $1,569,000. GAMMA Investing LLC raised its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate's stock valued at $2,702,000 after buying an additional 3,442 shares during the last quarter. Senator Investment Group LP bought a new stake in General Electric in the 2nd quarter valued at approximately $34,973,000. Finally, Blair William & Co. IL boosted its position in General Electric by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 181,971 shares of the conglomerate's stock worth $28,928,000 after acquiring an additional 7,670 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company's stock.

General Electric Company Profile

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.