General Electric (NYSE:GE) Sees Large Volume Increase

Shares of General Electric (NYSE:GE) saw an uptick in trading volume on Tuesday . 507,724 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 7,979,280 shares.The stock last traded at $101.23 and had previously closed at $104.46.

A number of research firms have recently commented on GE. Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $112.00 price objective on the stock. in a research note on Monday, July 12th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Electric from $120.00 to $112.00 and set a “hold” rating on the stock in a research report on Wednesday, July 14th. Barclays boosted their target price on shares of General Electric from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, May 19th. UBS Group reiterated a “buy” rating and set a $136.00 target price on shares of General Electric in a research report on Friday, July 23rd. Finally, Citigroup reiterated a “buy” rating and set a $136.00 target price on shares of General Electric in a research report on Wednesday, August 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Buy” and an average price target of $116.80.

The company has a market cap of $111.72 billion, a P/E ratio of 57.96, a price-to-earnings-growth ratio of 9.63 and a beta of 1.07. The company’s 50-day moving average is $103.36 and its two-hundred day moving average is $105.49. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.69.

General Electric (NYSE:GE) last posted its quarterly earnings results on Monday, July 26th. The conglomerate reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The company had revenue of $18.30 billion during the quarter, compared to analyst estimates of $17.96 billion. General Electric had a negative net margin of 3.18% and a positive return on equity of 5.56%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.20) earnings per share. On average, analysts anticipate that General Electric will post 1.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 25th. Shareholders of record on Monday, September 27th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 24th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. General Electric’s payout ratio is 400.00%.

A number of hedge funds have recently modified their holdings of GE. Envestnet Asset Management Inc. increased its holdings in shares of General Electric by 37.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,302,563 shares of the conglomerate’s stock worth $17,103,000 after purchasing an additional 355,766 shares during the period. Beaumont Financial Partners LLC increased its stake in General Electric by 7.8% in the first quarter. Beaumont Financial Partners LLC now owns 27,922 shares of the conglomerate’s stock valued at $367,000 after acquiring an additional 2,031 shares during the last quarter. Natixis Advisors L.P. increased its stake in General Electric by 4.7% in the first quarter. Natixis Advisors L.P. now owns 1,951,746 shares of the conglomerate’s stock valued at $25,626,000 after acquiring an additional 87,851 shares during the last quarter. Howard Capital Management Group LLC bought a new position in General Electric in the first quarter valued at $171,000. Finally, Cullen Frost Bankers Inc. increased its stake in General Electric by 66.8% in the first quarter. Cullen Frost Bankers Inc. now owns 253,357 shares of the conglomerate’s stock valued at $3,327,000 after acquiring an additional 101,443 shares during the last quarter.

General Electric Company Profile (NYSE:GE)

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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