Goldman Sachs Group Inc. set a $28.00 price objective on General Electric Co. (NYSE:GE) in a research report report published on Friday morning. The brokerage currently has a a neutral rating on the stock.
Several other analysts have also recently commented on GE. Credit Suisse Group AG restated a buy rating on shares of General Electric in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. restated a market perform rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr cut shares of General Electric from a buy rating to a hold rating and set a $30.93 target price for the company. in a research note on Tuesday, June 14th. JPMorgan Chase & Co. restated a sell rating on shares of General Electric in a research note on Wednesday, June 29th. Finally, William Blair set a $38.00 target price on shares of General Electric and gave the stock a buy rating in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $32.65.
General Electric (NYSE:GE) traded up 0.0128% during mid-day trading on Friday, hitting $29.6238. 5,320,788 shares of the stock were exchanged. The company has a 50-day moving average price of $30.58 and a 200-day moving average price of $30.81. The company has a market cap of $265.47 billion, a P/E ratio of 25.0413 and a beta of 1.15. General Electric has a one year low of $26.22 and a one year high of $33.00.
General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that General Electric will post $1.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.11%. General Electric’s dividend payout ratio is presently 77.97%.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Catamount Wealth Management boosted its stake in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares in the last quarter. Cable Hill Partners LLC boosted its stake in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares in the last quarter. Global X Management Co. LLC boosted its stake in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares in the last quarter. James Investment Research Inc. boosted its stake in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares in the last quarter. Finally, Balentine LLC boosted its stake in General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock valued at $187,000 after buying an additional 2,277 shares in the last quarter. 55.81% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
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