General Electric Co. (NYSE:GE)‘s stock had its “market perform” rating reiterated by Oppenheimer Holdings Inc. in a research note issued to investors on Thursday.
A number of other research firms have also issued reports on GE. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 price target for the company in a research report on Thursday, July 21st. Standpoint Research initiated coverage on shares of General Electric in a report on Friday, July 22nd. They issued a “sell” rating and a $26.00 price objective on the stock. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a report 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 price objective on shares of General Electric in a report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $32.60.
General Electric (NYSE:GE) traded down 0.41% during midday trading on Thursday, reaching $29.38. 2,294,407 shares of the company were exchanged. The firm’s 50 day moving average price is $30.44 and its 200-day moving average price is $30.79. The stock has a market capitalization of $263.28 billion, a P/E ratio of 24.84 and a beta of 1.15. General Electric has a 52 week low of $27.10 and a 52 week high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $31.76 billion. During the same period last year, the firm posted $0.31 EPS. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts forecast that General Electric will post $1.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction dated 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 purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GE. 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 during the period. Cable Hill Partners LLC boosted its position 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 during the last quarter. Global X Management Co. LLC boosted its position 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 during the last quarter. James Investment Research Inc. boosted its position 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 during the last quarter. Finally, Balentine LLC boosted its position 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 during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Company Profile
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