General Electric (GE) Receives $18.27 Average PT from Brokerages

Shares of General Electric (NYSE:GE) have been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.27.

A number of research firms have recently commented on GE. DZ Bank restated a “sell” rating on shares of General Electric in a report on Wednesday, March 28th. JPMorgan Chase restated an “underweight” rating and issued a $11.00 price target (down from $14.00) on shares of General Electric in a report on Tuesday, March 13th. UBS set a $16.00 price target on shares of General Electric and gave the stock a “neutral” rating in a report on Wednesday, March 7th. Royal Bank of Canada restated a “hold” rating and issued a $16.00 price target on shares of General Electric in a report on Tuesday, February 27th. Finally, Citigroup set a $23.00 price target on shares of General Electric and gave the stock a “buy” rating in a report on Monday, February 26th.

In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.12% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in GE. Franklin Resources Inc. raised its position in shares of General Electric by 64.6% in the 4th quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock valued at $3,222,649,000 after purchasing an additional 72,489,551 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of General Electric by 4,215.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock valued at $1,308,727,000 after purchasing an additional 52,870,164 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of General Electric by 167.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after purchasing an additional 39,268,675 shares during the last quarter. American International Group Inc. raised its position in shares of General Electric by 823.5% in the 4th quarter. American International Group Inc. now owns 27,837,013 shares of the conglomerate’s stock valued at $485,756,000 after purchasing an additional 24,822,828 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares during the period. 56.30% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GE traded down $0.36 during mid-day trading on Monday, reaching $13.12. The company had a trading volume of 72,086,963 shares, compared to its average volume of 94,981,703. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. The stock has a market cap of $117,041.13, a PE ratio of 12.50, a PEG ratio of 2.56 and a beta of 1.02. General Electric has a 52 week low of $12.73 and a 52 week high of $30.54.

General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. sell-side analysts forecast that General Electric will post 0.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

WARNING: “General Electric (GE) Receives $18.27 Average PT from Brokerages” was first reported by WKRB News and is the sole property of of WKRB News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.wkrb13.com/2018/04/03/general-electric-ge-receives-18-27-average-pt-from-brokerages.html.

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.

Analyst Recommendations for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply