General Electric Co. (NYSE:GE) – Investment analysts at William Blair decreased their Q3 2016 earnings per share (EPS) estimates for General Electric in a research note issued to investors on Thursday. William Blair analyst N. Heymann now forecasts that the firm will post earnings of $0.32 per share for the quarter, down from their previous forecast of $0.34. William Blair currently has a “Buy” rating and a $38.00 price objective on the stock. William Blair also issued estimates for General Electric’s Q4 2016 earnings at $0.52 EPS.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS.
A number of other research analysts have also recently commented on GE. Barclays PLC set a $32.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein restated a “market perform” rating and issued a $34.00 price target on shares of General Electric in a research report on Wednesday, October 12th. Stifel Nicolaus set a $31.00 price target on General Electric and gave the stock a “buy” rating in a research report on Wednesday, October 12th. RBC Capital Markets set a $36.00 price target on General Electric and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Finally, Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $32.35 price target on the stock in a research report on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.70.
General Electric (NYSE:GE) opened at 28.85 on Monday. The company’s 50-day moving average is $29.91 and its 200 day moving average is $30.65. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00. The firm has a market cap of $258.53 billion, a P/E ratio of 24.39 and a beta of 1.15.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.19%. General Electric’s dividend payout ratio is currently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, 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 SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GE. 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 in the last quarter. Horizon Investments LLC boosted its position in General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock valued at $247,000 after buying an additional 36 shares in the last quarter. Financial Management Professionals Inc. boosted its position in General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock valued at $274,000 after buying an additional 46 shares in the last quarter. Barry Investment Advisors LLC boosted its position in General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock valued at $216,000 after buying an additional 50 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its position in General Electric by 0.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 13,809 shares of the company’s stock valued at $410,000 after buying an additional 58 shares in the last quarter. 55.81% of the stock is currently owned by institutional investors and hedge funds.
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