General Electric (GE) Receives $23.39 Consensus Target Price from Brokerages

General Electric (NYSE:GE) has earned a consensus rating of “Hold” from the twenty-three brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.39.

A number of equities research analysts recently weighed in on GE shares. Argus dropped their price objective on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $31.00 price target on shares of General Electric in a research note on Friday, September 15th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a research note on Wednesday, September 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price target on shares of General Electric in a research note on Thursday, October 12th. Finally, Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, October 23rd.

In related news, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 120,500 shares of company stock valued at $2,183,220. Company insiders own 0.36% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GE. Ullmann Financial Group Inc. acquired a new stake in General Electric in the first quarter valued at approximately $106,000. PHH Investments Ltd. grew its holdings in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the period. Ffcm LLC acquired a new stake in General Electric in the second quarter valued at approximately $114,000. MPS Loria Financial Planners LLC acquired a new stake in General Electric in the second quarter valued at approximately $113,000. Finally, Corbenic Partners LLC grew its holdings in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. 55.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Electric (NYSE GE) traded down $0.17 during mid-day trading on Friday, reaching $17.59. The company had a trading volume of 65,462,384 shares, compared to its average volume of 45,633,078. General Electric has a 12 month low of $17.46 and a 12 month high of $32.38. The company has a market capitalization of $154,493.20, a P/E ratio of 14.37, a P/E/G ratio of 1.93 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 5.38% and a return on equity of 10.14%. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the previous year, the business earned $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. sell-side analysts predict that General Electric will post 1.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s payout ratio is 120.00%.

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