General Electric (NYSE:GE) Trading Down 9.1% – Should You Sell?

by · The Markets Daily

General Electric (NYSE:GE – Get Free Report) shares traded down 9.1% on Tuesday . The stock traded as low as $176.38 and last traded at $176.50. 6,038,072 shares were traded during trading, a decline of 5% from the average session volume of 6,324,736 shares. The stock had previously closed at $194.23.

Wall Street Analyst Weigh In

GE has been the topic of several research reports. Bank of America increased 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. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada reduced their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $212.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Citigroup increased their price target on General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.93.

Check Out Our Latest Analysis on General Electric

General Electric Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $179.51 and its 200-day simple moving average is $168.15. The stock has a market cap of $198.98 billion, a P/E ratio of 59.60, a PEG ratio of 1.86 and a beta of 1.18.

General Electric (NYSE:GE – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The firm had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. General Electric’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. General Electric’s payout ratio is currently 36.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. PFG Investments LLC grew its position in General Electric by 6.3% in the third quarter. PFG Investments LLC now owns 26,073 shares of the conglomerate’s stock worth $4,917,000 after buying an additional 1,550 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in General Electric by 65.9% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,089 shares of the conglomerate’s stock worth $394,000 after buying an additional 830 shares during the last quarter. Arkadios Wealth Advisors grew its position in General Electric by 2.4% in the third quarter. Arkadios Wealth Advisors now owns 6,023 shares of the conglomerate’s stock worth $1,136,000 after buying an additional 140 shares during the last quarter. Forsta AP Fonden grew its position in General Electric by 7.5% in the third quarter. Forsta AP Fonden now owns 318,125 shares of the conglomerate’s stock worth $59,992,000 after buying an additional 22,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in General Electric by 50.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,254 shares of the conglomerate’s stock worth $23,776,000 after buying an additional 43,145 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

About General Electric

(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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