General Electric Co. (GE) PT Set at $35.00 by William Blair
General Electric Co. (NYSE:GE) received a $35.00 target price from William Blair in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. William Blair’s target price indicates a potential upside of 11.68% from the stock’s current price.
A number of other analysts have also recently commented on GE. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $31.96 price objective for the company. in a research report on Monday, November 7th. RBC Capital Markets reiterated an “outperform” rating and set a $36.00 price objective on shares of General Electric in a research report on Tuesday, November 1st. Stifel Nicolaus set a $33.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Tuesday, November 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $33.00 price objective on shares of General Electric in a research report on Tuesday, November 1st. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.56.
Shares of General Electric (NYSE:GE) opened at 31.34 on Tuesday. The firm has a market cap of $277.25 billion, a PE ratio of 26.95 and a beta of 1.20. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00. The stock’s 50 day moving average is $29.47 and its 200 day moving average is $30.42.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business earned $29.30 billion during the quarter, compared to the consensus estimate of $29.64 billion. General Electric had a return on equity of 16.08% and a net margin of 8.93%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. On average, analysts anticipate that General Electric will post $1.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Investors of record on Monday, September 19th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 2.94%. General Electric’s payout ratio is currently 80.00%.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $29.24 per share, with a total value of $1,462,000.00. Following the completion of the purchase, the chairman now owns 2,248,688 shares in the company, valued at approximately $65,751,637.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GE. Patten & Patten Inc. TN raised 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 during the period. Baxter Bros Inc. purchased a new stake in shares of General Electric during the second quarter valued at $11,436,000. Howland Capital Management LLC raised 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 valued at $39,526,000 after buying an additional 89,178 shares during the period. Osborn Rohs Williams & Donohoe Ltd raised 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 valued at $9,138,000 after buying an additional 3,405 shares during the period. Finally, Cacti Asset Management LLC raised 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 valued at $3,070,000 after buying an additional 1,175 shares during the period. 55.46% of the stock is owned by institutional investors.
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