General Electric Co. (NYSE:GE) has been given a $31.00 price objective by equities researchers at Stifel Nicolaus in a research note issued to investors on Wednesday. The firm presently has a a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 7.19% from the stock’s previous close.
Several other research firms also recently commented on GE. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $31.67 price objective for the company in a research note on Thursday, July 21st. Standpoint Research began coverage on General Electric in a research note on Friday, July 22nd. They issued a “sell” rating and a $26.00 price objective for the company. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, Citigroup Inc. restated a “buy” rating and issued a $36.00 target price on shares of General Electric in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has a consensus rating of “Buy” and an average price target of $32.79.
General Electric (NYSE:GE) traded down 0.24% during mid-day trading on Wednesday, hitting $28.85. The stock had a trading volume of 7,532,471 shares. The firm’s 50-day moving average price is $30.18 and its 200 day moving average price is $30.73. The company has a market cap of $258.53 billion, a PE ratio of 24.39 and a beta of 1.15. General Electric has a one year low of $27.10 and a one year high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 575,093,558 shares of the company’s stock worth $18,103,945,000 after buying an additional 3,276,096 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of General Electric by 2.3% in the second quarter. BlackRock Fund Advisors now owns 108,746,040 shares of the company’s stock valued at $3,423,325,000 after buying an additional 2,477,059 shares during the period. BlackRock Group LTD increased its position in shares of General Electric by 0.3% in the second quarter. BlackRock Group LTD now owns 75,537,924 shares of the company’s stock valued at $2,377,934,000 after buying an additional 262,526 shares during the period. Trian Fund Management L.P. increased its position in shares of General Electric by 0.7% in the second quarter. Trian Fund Management L.P. now owns 74,766,576 shares of the company’s stock valued at $2,353,652,000 after buying an additional 521,321 shares during the period. Finally, Legal & General Group Plc increased its position in shares of General Electric by 4.6% in the second quarter. Legal & General Group Plc now owns 43,928,772 shares of the company’s stock valued at $1,381,942,000 after buying an additional 1,918,773 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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