General Electric Co. (NYSE:GE) Receives $32.56 Consensus PT from Brokerages
Shares of General Electric Co. (NYSE:GE) have received a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $32.45.
GE has been the topic of several research analyst reports. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target on the stock in a report on Monday, June 27th. Stifel Nicolaus restated a “buy” rating and set a $34.00 price target on shares of General Electric in a report on Monday, June 27th. Bank of America Corp. restated a “buy” rating on shares of General Electric in a report on Monday, June 6th. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, Citigroup Inc. restated a “buy” rating and set a $36.00 price target on shares of General Electric in a report on Monday, July 25th.
Shares of General Electric (NYSE:GE) opened at 29.62 on Wednesday. The stock has a market capitalization of $265.43 billion, a P/E ratio of 25.04 and a beta of 1.11. General Electric has a 12-month low of $26.22 and a 12-month high of $33.00. The stock has a 50 day moving average price of $30.58 and a 200 day moving average price of $30.81.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the previous year, the company posted $0.31 EPS. General Electric’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post $1.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.11%. General Electric’s payout ratio is currently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of GE. Macquarie Group Ltd. boosted its stake in General Electric by 1.6% in the second quarter. Macquarie Group Ltd. now owns 434,765 shares of the company’s stock worth $13,686,000 after buying an additional 6,735 shares during the last quarter. Carnick & Kubik Group LLC acquired a new stake in General Electric during the second quarter worth $781,000. Williams Jones & Associates LLC boosted its stake in General Electric by 12.6% in the second quarter. Williams Jones & Associates LLC now owns 942,119 shares of the company’s stock worth $29,658,000 after buying an additional 105,442 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in General Electric during the second quarter worth $11,688,000. Finally, Kentucky Retirement Systems acquired a new stake in General Electric during the second quarter worth $24,617,000. 55.81% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
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