General Electric (NYSE:GE) Reaches New 1-Year Low at $65.17

General Electric (NYSE:GEGet Rating) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $65.17 and last traded at $65.60, with a volume of 77941 shares. The stock had previously closed at $69.10.

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on General Electric from $100.00 to $96.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. Credit Suisse Group lowered their price objective on General Electric from $113.00 to $102.00 in a report on Wednesday, April 27th. Royal Bank of Canada lifted their price objective on General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, March 11th. Morgan Stanley lowered their price objective on General Electric from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $118.00 to $107.00 in a report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $116.36.

The stock has a market capitalization of $72.64 billion, a PE ratio of -14.41, a PEG ratio of 3.50 and a beta of 1.01. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. The company’s 50 day simple moving average is $78.53 and its 200 day simple moving average is $89.35.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The company had revenue of $17.04 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same period in the previous year, the company earned $0.24 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts predict that General Electric will post 2.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. General Electric’s dividend payout ratio is presently -6.99%.

In related news, major shareholder Electric Co General sold 72,025,826 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the completion of the sale, the insider now directly owns 3,931,363 shares of the company’s stock, valued at approximately $135,435,455.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John S. Slattery acquired 3,601 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was purchased at an average price of $75.00 per share, for a total transaction of $270,075.00. Following the acquisition, the senior vice president now directly owns 3,601 shares in the company, valued at $270,075. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 69,801 shares of company stock valued at $5,207,705. 0.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of General Electric by 18.6% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 30,660 shares of the conglomerate’s stock valued at $2,896,000 after purchasing an additional 4,806 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of General Electric by 26.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 371,305 shares of the conglomerate’s stock valued at $34,897,000 after purchasing an additional 77,601 shares in the last quarter. Alhambra Investment Partners LLC raised its stake in shares of General Electric by 8.8% in the 4th quarter. Alhambra Investment Partners LLC now owns 8,487 shares of the conglomerate’s stock valued at $802,000 after purchasing an additional 685 shares in the last quarter. Paradigm Financial Partners LLC acquired a new stake in shares of General Electric in the 4th quarter valued at about $558,000. Finally, InTrack Investment Management Inc raised its stake in shares of General Electric by 27.0% in the 4th quarter. InTrack Investment Management Inc now owns 19,538 shares of the conglomerate’s stock valued at $2,016,000 after purchasing an additional 4,149 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

About General Electric (NYSE:GE)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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.

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