General Electric Co. (GE) Given a $36.00 Price Target by RBC Capital Markets Analysts
A number of other analysts also recently weighed in on GE. Credit Suisse Group AG reaffirmed a buy rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr downgraded shares of General Electric from a buy rating to a hold rating and set a $30.93 target price on the stock. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reaffirmed a sell rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of General Electric from a sell rating to a hold rating in a research report on Thursday, June 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $32.93.
Shares of General Electric (NYSE:GE) opened at 28.92 on Tuesday. The firm has a 50-day moving average of $30.18 and a 200-day moving average of $30.73. The firm has a market capitalization of $259.16 billion, a PE ratio of 24.45 and a beta of 1.15. General Electric has a 12-month low of $27.10 and a 12-month high of $33.00.
General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The firm had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Equities analysts anticipate that General Electric will post $1.50 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.18%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Chelsea Counsel Co. raised its stake in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock worth $5,280,000 after buying an additional 2,700 shares during the last quarter. Catamount Wealth Management raised its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the last quarter. Nexus Investment Management Inc. raised its stake in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock worth $21,762,000 after buying an additional 2,600 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock worth $3,522,000 after buying an additional 672 shares during the last quarter. Finally, First PREMIER Bank raised its stake in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock worth $2,332,000 after buying an additional 1,990 shares during the last quarter. Institutional investors own 55.81% of the company’s stock.
About General Electric
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