Credit Suisse Group reissued their neutral rating on shares of General Electric (NYSE:GE) in a research note published on Wednesday, October 31st. They currently have a $12.00 price objective on the conglomerate’s stock.
A number of other research firms have also commented on GE. Bank of America restated a hold rating and set a $14.00 price target on shares of General Electric in a research report on Thursday, October 4th. Royal Bank of Canada restated a neutral rating and set a $15.00 price target on shares of General Electric in a research report on Wednesday, August 8th. ValuEngine upgraded shares of General Electric from a strong sell rating to a sell rating in a research report on Saturday, October 6th. Zacks Investment Research upgraded shares of General Electric from a sell rating to a hold rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. set a $10.00 price target on shares of General Electric and gave the company a sell rating in a research report on Wednesday, October 31st. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.09.
General Electric stock traded up $0.16 during mid-day trading on Wednesday, reaching $7.81. The company’s stock had a trading volume of 84,408,003 shares, compared to its average volume of 173,506,112. General Electric has a 12-month low of $7.53 and a 12-month high of $19.39. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 2.17 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03.
General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast that General Electric will post 0.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.15%. The ex-dividend date was Friday, September 14th. General Electric’s dividend payout ratio is presently 45.71%.
In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average cost of $9.73 per share, with a total value of $2,189,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza purchased 60,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was acquired at an average cost of $8.32 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now directly owns 151,500 shares of the company’s stock, valued at $1,260,480. The disclosure for this purchase can be found here. Insiders acquired 295,000 shares of company stock valued at $2,783,250 over the last three months. 1.12% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Fusion Family Wealth LLC raised its stake in shares of General Electric by 153.3% during the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 5,002 shares during the last quarter. Psagot Investment House Ltd. increased its position in shares of General Electric by 2,862.2% during the third quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock valued at $115,000 after buying an additional 9,846 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in shares of General Electric during the first quarter valued at about $116,000. Beech Hill Advisors Inc. purchased a new position in shares of General Electric during the third quarter valued at about $119,000. Finally, Archford Capital Strategies LLC purchased a new position in shares of General Electric during the first quarter valued at about $121,000. 54.25% of the stock is owned by institutional investors and hedge funds.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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