General Electric Co. (NYSE:GE)‘s stock had its “market perform” rating restated by equities research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Wednesday. They presently have a $34.00 price objective on the stock. Sanford C. Bernstein’s price target suggests a potential upside of 18.18% from the stock’s current price.
A number of other research firms have also commented on GE. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $31.67 price target on the stock in a research report on Thursday, July 21st. Standpoint Research began coverage on General Electric in a research report on Friday, July 22nd. They issued a “sell” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $36.00 price target on shares of General Electric in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric currently has a consensus rating of “Buy” and a consensus target price of $32.79.
General Electric (NYSE:GE) opened at 28.77 on Wednesday. The company has a market capitalization of $257.81 billion, a P/E ratio of 24.32 and a beta of 1.15. General Electric has a 12-month low of $27.10 and a 12-month high of $33.00. The company’s 50 day moving average price is $30.04 and its 200-day moving average price is $30.71.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter in the previous year, the company posted $0.31 EPS. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that General Electric will post $1.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is 77.97%.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction on Tuesday, July 26th. The stock was acquired at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Chelsea Counsel Co. raised its position in General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock worth $5,280,000 after buying an additional 2,700 shares during the last quarter. Catamount Wealth Management raised its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the last quarter. Nexus Investment Management Inc. raised its position in General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock worth $21,762,000 after buying an additional 2,600 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock worth $3,522,000 after buying an additional 672 shares during the last quarter. Finally, First PREMIER Bank raised its position in General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock worth $2,332,000 after buying an additional 1,990 shares during the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.
About General Electric
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