General Electric (NYSE:GE) Shares Down 0.1% – Time to Sell?

General Electric (NYSE:GE)’s share price was down 0.1% during mid-day trading on Monday . The stock traded as low as $175.13 and last traded at $176.81. Approximately 530,463 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 6,218,050 shares. The stock had previously closed at $176.93.

Analyst Upgrades and Downgrades

Several research firms recently commented on GE. Barclays upped their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup upped 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. Sanford C. Bernstein upped their price target on shares of General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America upped their price target on shares of General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research upped their price target on shares of General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. Two 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, the company has an average rating of “Moderate Buy” and a consensus target price of $200.93.

General Electric Price Performance

The company’s 50-day moving average is $182.75 and its 200-day moving average is $170.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $192.17 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that General Electric will post 4.22 earnings per share for the current year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors 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 dividend yield of 0.63%. General Electric’s dividend payout ratio is presently 19.68%.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Second Line Capital LLC acquired a new position in shares of General Electric during the third quarter worth $262,000. TCW Group Inc. lifted its holdings in General Electric by 44.3% in the 3rd quarter. TCW Group Inc. now owns 994,524 shares of the conglomerate’s stock worth $187,547,000 after buying an additional 305,336 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in shares of General Electric by 269.8% during the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock valued at $5,318,000 after acquiring an additional 20,575 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of General Electric by 38.9% during the third quarter. TD Private Client Wealth LLC now owns 20,563 shares of the conglomerate’s stock worth $3,878,000 after acquiring an additional 5,755 shares during the last quarter. Finally, Virtue Capital Management LLC boosted its holdings in General Electric by 37.3% in the third quarter. Virtue Capital Management LLC now owns 8,245 shares of the conglomerate’s stock valued at $1,555,000 after purchasing an additional 2,240 shares during the last quarter. Hedge funds and other institutional investors 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.