Goldman Sachs Group set a $14.00 target price on General Electric (NYSE:GE) in a report issued on Tuesday morning. The brokerage currently has a neutral rating on the conglomerate’s stock.
GE has been the topic of a number of other research reports. Royal Bank of Canada reissued a buy rating and set a $15.00 price objective on shares of General Electric in a report on Tuesday. JPMorgan Chase & Co. reissued a sell rating and set a $10.00 price objective on shares of General Electric in a report on Thursday, October 25th. Credit Suisse Group initiated coverage on General Electric in a report on Friday, October 12th. They set a neutral rating and a $14.00 price objective on the stock. Gordon Haskett initiated coverage on General Electric in a report on Friday, October 12th. They set a sell rating on the stock. Finally, Citigroup dropped their price objective on General Electric from $21.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, October 9th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $14.94.
Shares of NYSE GE traded down $0.29 during trading on Tuesday, reaching $9.29. 263,440,570 shares of the stock traded hands, compared to its average volume of 116,469,760. General Electric has a 52-week low of $9.06 and a 52-week high of $20.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.51. The stock has a market capitalization of $87.69 billion, a PE ratio of 8.85, a P/E/G ratio of 2.04 and a beta of 0.95.
General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm had revenue of $29.57 billion for the quarter, compared to analysts’ expectations of $30.08 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that General Electric will post 0.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 5.17%. General Electric’s payout ratio is currently 45.71%.
Several large investors have recently added to or reduced their stakes in GE. Fusion Family Wealth LLC increased its position in shares of General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after purchasing an additional 5,002 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of General Electric during the 1st quarter valued at about $116,000. Beech Hill Advisors Inc. bought a new position in shares of General Electric during the 3rd quarter valued at about $119,000. Archford Capital Strategies LLC bought a new position in shares of General Electric during the 1st quarter valued at about $121,000. Finally, LVW Advisors LLC bought a new position in shares of General Electric during the 3rd quarter valued at about $127,000. 53.75% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: Conference Calls and Individual Investors
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.