General Electric (NYSE:GE - Get Free Report) dropped 0.8% during mid-day trading on Tuesday . The company traded as low as $172.77 and last traded at $173.90. Approximately 1,305,575 shares traded hands during trading, a decline of 79% from the average daily volume of 6,338,711 shares. The stock had previously closed at $175.36.
Analyst Ratings Changes
A number of brokerages have weighed in on GE. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. UBS Group raised their price objective on General Electric from $223.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. StockNews.com downgraded General Electric from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Melius Research raised their price target on General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Citigroup lifted their price target on General Electric from $198.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, General Electric presently has an average rating of "Moderate Buy" and an average target price of $200.93.
View Our Latest Analysis on General Electric
General Electric Stock Performance
The firm has a market cap of $188.46 billion, a P/E ratio of 30.59, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. The business's 50-day simple moving average is $179.99 and its 200 day simple moving average is $168.69.
General Electric (NYSE:GE - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating 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 return on equity of 18.93% and a net margin of 11.48%. General Electric's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts predict that General Electric will post 4.2 earnings per share for the current year.
General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Thursday, September 26th were given a $0.28 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.64%. General Electric's payout ratio is presently 19.68%.
Hedge Funds Weigh In On General Electric
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aviance Capital Partners LLC purchased a new stake in General Electric in the 1st quarter worth approximately $306,000. Miracle Mile Advisors LLC raised its position in shares of General Electric by 6.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 2,184 shares of the conglomerate's stock valued at $383,000 after purchasing an additional 135 shares during the period. Cullinan Associates Inc. purchased a new position in shares of General Electric during the 1st quarter valued at $2,051,000. Plimoth Trust Co. LLC boosted its holdings in General Electric by 0.7% in the 1st quarter. Plimoth Trust Co. LLC now owns 12,617 shares of the conglomerate's stock worth $2,215,000 after buying an additional 92 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new stake in General Electric in the 1st quarter worth $44,000. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company Profile
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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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