Several other equities analysts have also recently issued reports on the company. Vetr raised General Electric from a sell rating to a hold rating and set a $30.93 target price on the stock in a research note on Thursday, July 7th. Cowen and Company started coverage on General Electric in a research note on Tuesday, June 7th. They set a market perform rating and a $29.00 target price on the stock. Credit Suisse Group AG reissued an outperform rating and set a $34.00 target price on shares of General Electric in a research note on Monday, June 27th. Zacks Investment Research raised General Electric from a sell rating to a hold rating in a research note on Wednesday, July 13th. Finally, Stifel Nicolaus set a $34.00 target price on General Electric and gave the company a buy rating in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. General Electric presently has an average rating of Hold and an average price target of $32.75.
General Electric (NYSE:GE) opened at 29.90 on Friday. The firm has a market cap of $267.94 billion, a P/E ratio of 25.27 and a beta of 1.11. General Electric has a 52 week low of $24.79 and a 52 week high of $33.00. The firm’s 50-day moving average price is $30.68 and its 200 day moving average price is $30.83.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Equities analysts forecast that General Electric will post $1.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction on Tuesday, July 26th. The stock was acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. BlackRock Fund Advisors boosted its stake 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 worth $3,423,325,000 after buying an additional 2,477,059 shares during the last quarter. BlackRock Group LTD boosted its stake 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 worth $2,377,934,000 after buying an additional 262,526 shares during the last quarter. Trian Fund Management L.P. boosted its stake 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 worth $2,353,652,000 after buying an additional 521,321 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake 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 worth $1,381,942,000 after buying an additional 1,918,773 shares during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
About General Electric
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