General Electric (NYSE:GE) Stock Price Down 2.8%

Shares of General Electric (NYSE:GE) were down 2.8% during mid-day trading on Thursday . The company traded as low as $174.86 and last traded at $175.04. Approximately 2,596,871 shares traded hands during trading, a decline of 56% from the average daily volume of 5,952,074 shares. The stock had previously closed at $180.12.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GE. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Barclays lifted their price target on shares of General Electric from $153.00 to $181.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. TheStreet upgraded General Electric from a “c+” rating to a “b+” rating in a research report on Tuesday, January 23rd. Jefferies Financial Group raised their price target on General Electric from $180.00 to $195.00 in a research report on Monday, March 11th. Finally, Citigroup increased their price target on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.54.

General Electric Trading Down 2.5 %

The firm has a market cap of $191.90 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $151.58 and a 200-day moving average price of $129.37.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter last year, the company earned $1.24 earnings per share. General Electric’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts expect that General Electric will post 4.57 EPS for the current fiscal year.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares in the company, valued at approximately $8,153,863.08. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of General Electric by 10.0% in the 1st quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after purchasing an additional 27,682 shares during the last quarter. Prudential PLC bought a new position in shares of General Electric in the first quarter valued at approximately $1,518,000. Sequoia Financial Advisors LLC lifted its position in shares of General Electric by 2.9% during the first quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after purchasing an additional 334 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of General Electric in the 1st quarter worth approximately $388,000. Finally, West Family Investments Inc. purchased a new stake in shares of General Electric during the 1st quarter valued at $230,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

About General Electric

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.