Goldman Sachs set a $14.00 target price on General Electric (NYSE:GE) in a report published on Monday. The brokerage currently has a hold rating on the conglomerate’s stock.
A number of other brokerages have also recently weighed in on GE. Vetr cut shares of General Electric from a strong-buy rating to a buy rating and set a $21.08 target price on the stock. in a report on Wednesday, January 10th. JPMorgan Chase reissued a sell rating and set a target price on shares of General Electric in a report on Monday, January 15th. Deutsche Bank reissued a sell rating and set a $15.00 target price on shares of General Electric in a report on Wednesday, January 17th. Vertical Research set a $18.00 target price on shares of General Electric and gave the stock a hold rating in a report on Tuesday, January 16th. Finally, Tigress Financial reissued a hold rating on shares of General Electric in a report on Thursday, December 28th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $17.86.
GE opened at $13.33 on Monday. The firm has a market capitalization of $117,127.95, a P/E ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 12-month low of $12.73 and a 12-month high of $30.54.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. equities research analysts anticipate that General Electric will post 0.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.60%. General Electric’s dividend payout ratio is currently 45.71%.
In other news, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. grew its position in General Electric by 0.3% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares in the last quarter. NorthRock Partners LLC grew its position in General Electric by 0.9% in the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares in the last quarter. Shapiro Capital Management LLC grew its position in General Electric by 0.8% in the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after buying an additional 147 shares in the last quarter. CFO4Life Group LLC grew its position in General Electric by 0.9% in the 2nd quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after buying an additional 152 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in General Electric by 0.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 54,208 shares of the conglomerate’s stock valued at $1,464,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 56.22% of the company’s stock.
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About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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