General Electric Co. (GE) Given a $28.00 Price Target at Goldman Sachs Group Inc.
GE has been the subject of several other research reports. Oppenheimer Holdings Inc. reissued a market perform rating on shares of General Electric in a report on Tuesday, June 28th. Vetr raised shares of General Electric from a sell rating to a hold rating and set a $31.67 price objective for the company in a report on Thursday, July 21st. TheStreet raised shares of General Electric from a hold rating to a buy rating in a report on Friday, July 22nd. Credit Suisse Group AG reissued a buy rating on shares of General Electric in a report on Saturday, July 9th. Finally, Zacks Investment Research raised shares of General Electric from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. General Electric has a consensus rating of Hold and a consensus target price of $32.65.
Shares of General Electric (NYSE:GE) traded up 0.0128% on Friday, reaching $29.6238. The company had a trading volume of 5,320,788 shares. General Electric has a 52 week low of $26.22 and a 52 week high of $33.00. The firm has a market capitalization of $265.47 billion, a price-to-earnings ratio of 25.0413 and a beta of 1.15. The stock’s 50 day moving average is $30.58 and its 200 day moving average is $30.81.
General Electric (NYSE:GE) last released its quarterly earnings data 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 earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post $1.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date 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 77.97%.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 575,093,558 shares of the company’s stock worth $18,103,945,000 after buying an additional 3,276,096 shares in the last quarter. BlackRock Fund Advisors boosted its stake in General Electric by 2.3% in the second quarter. BlackRock Fund Advisors now owns 108,746,040 shares of the company’s stock worth $3,423,325,000 after buying an additional 2,477,059 shares in the last quarter. BlackRock Group LTD boosted its stake in General Electric by 0.3% in the second quarter. BlackRock Group LTD now owns 75,537,924 shares of the company’s stock worth $2,377,934,000 after buying an additional 262,526 shares in the last quarter. Trian Fund Management L.P. boosted its stake in General Electric by 0.7% in the second quarter. Trian Fund Management L.P. now owns 74,766,576 shares of the company’s stock worth $2,353,652,000 after buying an additional 521,321 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in General Electric by 4.6% in the second quarter. Legal & General Group Plc now owns 43,928,772 shares of the company’s stock worth $1,381,942,000 after buying an additional 1,918,773 shares in the last quarter. 55.81% of the stock is owned by institutional investors.
About General Electric
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