General Electric (NYSE:GE) has been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.50.
GE has been the topic of several recent analyst reports. Cowen reissued a “hold” rating and set a $8.00 price objective on shares of General Electric in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. Citigroup set a $14.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Wednesday, June 19th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Finally, UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $11.50 in a research note on Monday, July 15th.
In other news, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of General Electric stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. Insiders have purchased 749,732 shares of company stock worth $6,536,708 over the last ninety days. 1.13% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Ashburton Jersey Ltd bought a new stake in General Electric in the 2nd quarter valued at $25,000. Fusion Family Wealth LLC grew its holdings in shares of General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the last quarter. Employers Holdings Inc. bought a new stake in shares of General Electric in the 2nd quarter worth about $28,000. Manchester Financial Inc. bought a new stake in shares of General Electric in the 2nd quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of General Electric in the 2nd quarter worth about $35,000. 57.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of GE traded down $1.02 on Thursday, hitting $8.01. 396,060,329 shares of the stock traded hands, compared to its average volume of 61,059,360. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $78.98 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.96 and a beta of 1.03. The stock’s 50 day moving average is $10.08 and its two-hundred day moving average is $9.97. General Electric has a 1 year low of $6.66 and a 1 year high of $13.78.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Research analysts forecast that General Electric will post 0.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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