General Electric (NYSE:GE)’s share price was up 3.3% on Wednesday . The company traded as high as $13.94 and last traded at $14.20. Approximately 86,161,588 shares traded hands during trading, an increase of 31% from the average daily volume of 65,928,760 shares. The stock had previously closed at $13.74.
Several equities analysts have commented on GE shares. JPMorgan Chase & Co. set a $11.00 price objective on shares of General Electric and gave the company a “sell” rating in a research report on Friday, April 27th. DZ Bank reiterated a “sell” rating on shares of General Electric in a research report on Tuesday, April 3rd. Goldman Sachs Group reiterated a “neutral” rating and set a $14.00 price objective on shares of General Electric in a research report on Tuesday, May 22nd. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, Stifel Nicolaus lowered their price objective on shares of General Electric from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, April 3rd. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and an average price target of $17.92.
The company has a market capitalization of $110.70 billion, a P/E ratio of 13.34, a PEG ratio of 2.44 and a beta of 1.01. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The company had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. analysts predict that General Electric will post 0.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, June 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, June 15th. General Electric’s dividend payout ratio (DPR) is 45.71%.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $58,245,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gould Asset Management LLC CA increased its stake in shares of General Electric by 20.3% during the third quarter. Gould Asset Management LLC CA now owns 15,329 shares of the conglomerate’s stock worth $371,000 after buying an additional 2,588 shares during the period. First United Bank Trust boosted its holdings in General Electric by 31.2% in the fourth quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock valued at $202,000 after purchasing an additional 2,760 shares in the last quarter. Graybill Bartz & Assoc Ltd. boosted its holdings in General Electric by 2.4% in the fourth quarter. Graybill Bartz & Assoc Ltd. now owns 125,984 shares of the conglomerate’s stock valued at $2,198,000 after purchasing an additional 2,925 shares in the last quarter. Loudon Investment Management LLC boosted its holdings in General Electric by 2.6% in the third quarter. Loudon Investment Management LLC now owns 124,244 shares of the conglomerate’s stock valued at $3,004,000 after purchasing an additional 3,156 shares in the last quarter. Finally, HCR Wealth Advisors boosted its holdings in General Electric by 11.4% in the third quarter. HCR Wealth Advisors now owns 31,946 shares of the conglomerate’s stock valued at $772,000 after purchasing an additional 3,264 shares in the last quarter. 53.83% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
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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