General Electric (NYSE:GE) Shares Down 0.5%

General Electric (NYSE:GE)’s stock price dropped 0.5% on Friday . The stock traded as low as $10.18 and last traded at $10.26. Approximately 429,868 shares traded hands during trading, a decline of 99% from the average daily volume of 47,475,368 shares. The stock had previously closed at $10.31.

GE has been the subject of several recent analyst reports. Credit Suisse Group restated a “neutral” rating and set a $11.00 target price on shares of General Electric in a research note on Friday, March 8th. Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, May 20th. Deutsche Bank increased their target price on General Electric from $8.00 to $11.00 and gave the company a “positive” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. William Blair restated a “buy” rating on shares of General Electric in a research note on Thursday, May 23rd. Finally, Gordon Haskett downgraded General Electric to an “underperform” rating and set a $7.00 target price for the company. in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.11.

The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. The firm has a market cap of $89.91 billion, a P/E ratio of 15.74, a P/E/G ratio of 2.34 and a beta of 0.98.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. As a group, equities research analysts predict that General Electric will post 0.61 earnings per share for the current year.

In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GE. Balentine LLC grew its position in General Electric by 81.5% during the 1st quarter. Balentine LLC now owns 2,528 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 1,135 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 2,500 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in General Electric during the 4th quarter worth approximately $27,000. Arbor Wealth Management LLC bought a new stake in General Electric during the 4th quarter worth approximately $30,000. Finally, Edge Wealth Management LLC grew its position in General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 1,300 shares during the last quarter. 57.91% of the stock is owned by institutional investors and hedge funds.

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General Electric Company Profile (NYSE:GE)

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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