General Electric (NYSE:GE) Trading Down 0.5%

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

A number of research analysts have recently commented on GE shares. Gabelli reissued a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Royal Bank of Canada reissued a “buy” rating and set a $12.00 price target on shares of General Electric in a report on Wednesday, March 6th. Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Monday, May 20th. William Blair reissued a “buy” rating on shares of General Electric in a report on Thursday, May 23rd. Finally, ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $12.11.

The firm has a market capitalization of $89.65 billion, a PE ratio of 15.83, a PEG ratio of 2.34 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50.

General Electric (NYSE:GE) last released its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. General Electric’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, research analysts predict that General Electric will post 0.61 EPS for the current fiscal year.

In related news, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction dated 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 transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $250,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction dated Friday, May 24th. The stock was 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. 1.13% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GE. Balentine LLC boosted 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 period. Farmers & Merchants Trust Co of Chambersburg PA boosted 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 period. Mackey Komara & Dankovich LLC acquired a new stake in General Electric during the 4th quarter worth about $27,000. Arbor Wealth Management LLC acquired a new stake in General Electric during the 4th quarter worth about $30,000. Finally, Edge Wealth Management LLC boosted 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 period. 57.91% of the stock is currently owned by hedge funds and other institutional investors.

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About General Electric (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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