General Electric Co. (NYSE:GE) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.45.
GE has been the subject of several recent research reports. JPMorgan Chase & Co. set a $28.00 price objective on General Electric and gave the company a “sell” rating in a research report on Friday, September 23rd. Morgan Stanley set a $32.00 price objective on General Electric and gave the company a “hold” rating in a research report on Wednesday, August 31st. Zacks Investment Research lowered General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target for the company in a research report on Monday, September 19th. Finally, Stifel Nicolaus set a $34.00 price target on General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th.
In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GE. Chelsea Counsel Co. boosted 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 in the last quarter. Catamount Wealth Management boosted 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 in the last quarter. Nexus Investment Management Inc. boosted 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 in the last quarter. Kistler Tiffany Companies LLC boosted 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 in the last quarter. Finally, First PREMIER Bank boosted 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 in the last quarter. Institutional investors own 55.81% of the company’s stock.
Shares of General Electric (NYSE:GE) opened at 29.62 on Wednesday. General Electric has a 12 month low of $26.22 and a 12 month high of $33.00. The stock’s 50 day moving average is $30.58 and its 200 day moving average is $30.81. The company has a market cap of $265.43 billion, a P/E ratio of 25.04 and a beta of 1.11.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. On average, analysts anticipate that General Electric will post $1.50 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.11%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
About General Electric
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