General Electric (NYSE:GE) Shares Down 1.6%

Shares of General Electric (NYSE:GE - Get Free Report) dropped 1.6% during trading on Wednesday . The stock traded as low as $158.96 and last traded at $159.16. Approximately 1,571,572 shares changed hands during trading, a decline of 80% from the average daily volume of 7,983,045 shares. The stock had previously closed at $161.82.

Analyst Upgrades and Downgrades

GE has been the topic of several research reports. StockNews.com initiated coverage on shares of General Electric in a research note on Monday. They set a "hold" rating on the stock. JPMorgan Chase & Co. cut their target price on shares of General Electric from $180.00 to $148.00 and set an "overweight" rating on the stock in a report on Tuesday, April 2nd. Bank of America raised their target price on shares of General Electric from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. TD Cowen upgraded shares of General Electric from a "hold" rating to a "buy" rating and raised their target price for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Finally, Oppenheimer restated a "market perform" rating on shares of General Electric in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $172.29.

General Electric Trading Down 1.3 %

The stock has a market cap of $174.81 billion, a P/E ratio of 52.36, a PEG ratio of 2.93 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average price is $161.50 and its 200 day moving average price is $137.33.

General Electric (NYSE:GE - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.17. The firm had revenue of $16.10 billion for the quarter, compared to analysts' expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Equities research analysts expect that General Electric will post 3.95 earnings per share for the current year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, April 12th. This is a positive change from General Electric's previous quarterly dividend of $0.08. General Electric's payout ratio is currently 36.72%.

Insider Transactions at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company's stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the business's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares of the company's stock, valued at approximately $8,153,863.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael J. Holston sold 13,601 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company's stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Halpern Financial Inc. raised its holdings in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate's stock worth $25,000 after acquiring an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of General Electric during the 4th quarter worth approximately $27,000. CGC Financial Services LLC raised its holdings in shares of General Electric by 90.2% during the 4th quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate's stock worth $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC raised its holdings in General Electric by 55.8% during the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate's stock valued at $31,000 after buying an additional 87 shares during the period. Finally, Bfsg LLC purchased a new stake in General Electric during the 4th quarter valued at $32,000. 74.77% of the stock is currently owned by institutional investors.

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.