General Electric Co. (GE) Given a $31.00 Price Target by Stifel Nicolaus Analysts
A number of other equities research analysts have also commented on GE. Vetr lowered General Electric from a buy rating to a hold rating and set a $30.93 price target on the stock. in a research report on Tuesday, June 14th. Royal Bank Of Canada restated an outperform rating on shares of General Electric in a research report on Monday, June 20th. Zacks Investment Research lowered General Electric from a hold rating to a sell rating in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. set a $29.00 price target on General Electric and gave the stock a neutral rating in a research report on Monday, June 27th. Finally, Credit Suisse Group AG restated an outperform rating and set a $34.00 price target on shares of General Electric in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $32.79.
Shares of General Electric (NYSE:GE) traded down 0.45% during midday trading on Wednesday, hitting $28.77. The stock had a trading volume of 9,715,792 shares. General Electric has a 52 week low of $27.10 and a 52 week high of $33.00. The stock has a 50 day moving average price of $30.11 and a 200-day moving average price of $30.72. The stock has a market capitalization of $257.81 billion, a price-to-earnings ratio of 24.32 and a beta of 1.15.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. Equities research analysts anticipate that General Electric will post $1.50 earnings per share for the current year.
The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio is 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The shares were bought 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 the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of GE. Patten & Patten Inc. TN boosted its stake in shares of General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. purchased a new position in General Electric during the second quarter valued at about $11,436,000. Howland Capital Management LLC raised its position in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock valued at $39,526,000 after buying an additional 89,178 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd raised its position in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock valued at $9,138,000 after buying an additional 3,405 shares during the last quarter. Finally, Cacti Asset Management LLC raised its position in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock valued at $3,070,000 after buying an additional 1,175 shares during the last quarter. 55.81% of the stock is currently owned by institutional investors.
About General Electric
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