Shares of General Electric Company (NYSE:GE) have earned an average rating of “Hold” from the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.73.
A number of brokerages have issued reports on GE. Morgan Stanley reiterated an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research note on Tuesday, September 19th. Citigroup Inc. set a $28.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday. UBS AG lowered General Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $31.00 to $24.00 in a research note on Monday. Finally, Stifel Nicolaus lowered General Electric from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Tuesday.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after purchasing an additional 3,297,890 shares during the last quarter. BlackRock Inc. lifted its stake in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital World Investors lifted its stake in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. Capital Research Global Investors lifted its stake in General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. 54.61% of the stock is owned by institutional investors and hedge funds.
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General Electric (GE) opened at 21.32 on Friday. The stock’s 50 day moving average price is $23.88 and its 200-day moving average price is $26.35. The stock has a market cap of $184.59 billion, a price-to-earnings ratio of 25.97 and a beta of 1.19. General Electric has a 12 month low of $21.20 and a 12 month high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.73% and a net margin of 6.08%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts expect that General Electric will post $1.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.50%. The ex-dividend date was Friday, September 15th. General Electric’s payout ratio is currently 120.00%.
About General Electric
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