General Electric Co. (GE) Given a $32.00 Price Target at Barclays PLC
General Electric Co. (NYSE:GE) has been given a $32.00 price objective by Barclays PLC in a note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. Barclays PLC’s price objective points to a potential upside of 10.76% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $34.00 price target on shares of General Electric in a research report on Wednesday, October 12th. Stifel Nicolaus set a $31.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Wednesday, October 12th. RBC Capital Markets set a $36.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, October 11th. Vetr upgraded shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $32.35 price target on the stock in a research report on Monday, October 10th. Finally, Citigroup Inc. dropped their target price on shares of General Electric from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.70.
General Electric (NYSE:GE) traded down 0.28% during mid-day trading on Monday, reaching $28.81. 4,235,093 shares of the company’s stock traded hands. General Electric has a 1-year low of $27.10 and a 1-year high of $33.00. The stock has a market cap of $258.17 billion, a P/E ratio of 24.35 and a beta of 1.15. The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $30.69.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business 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%. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts anticipate that General Electric will post $1.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given 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 dividend yield of 3.18%. General Electric’s payout ratio is presently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of General Electric stock in a transaction dated 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 transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. 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 worth $20,170,000 after buying an additional 9,512 shares during the last quarter. Baxter Bros Inc. acquired a new stake in shares of General Electric during the second quarter worth about $11,436,000. Howland Capital Management LLC boosted its stake in shares of General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its stake in shares of General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock worth $9,138,000 after buying an additional 3,405 shares during the last quarter. Finally, Cacti Asset Management LLC boosted its stake in shares of General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock worth $3,070,000 after buying an additional 1,175 shares during the last quarter. 55.81% of the stock is owned by institutional investors.
General Electric Company Profile
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