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.
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.
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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