General Electric (GE) Given a $16.10 Price Target at Morningstar

Morningstar set a $16.10 price objective on General Electric (NYSE:GE) in a research note issued to investors on Monday. The brokerage currently has a buy rating on the conglomerate’s stock.

Several other research analysts also recently issued reports on GE. Royal Bank of Canada reaffirmed a neutral rating and set a $15.00 price objective on shares of General Electric in a report on Wednesday, June 20th. Zacks Investment Research downgraded General Electric from a hold rating to a strong sell rating in a report on Friday, June 22nd. UBS Group raised General Electric from an underperform rating to a market perform rating and set a $16.00 price objective on the stock in a report on Wednesday, June 27th. JPMorgan Chase & Co. set a $11.00 price target on General Electric and gave the company a sell rating in a research note on Wednesday, June 27th. Finally, Oppenheimer raised General Electric from an underperform rating to a market perform rating in a research note on Wednesday, June 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $16.42.

NYSE:GE opened at $13.61 on Monday. General Electric has a 52-week low of $11.21 and a 52-week high of $24.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81. The firm has a market cap of $98.03 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.14 and a beta of 0.97.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts expect that General Electric will post 0.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s dividend payout ratio (DPR) is currently 45.71%.

In other news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the stock in a transaction that occurred on Tuesday, July 24th. The stock was acquired at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.12% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in General Electric by 158.6% during the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock worth $2,799,528,000 after purchasing an additional 126,169,069 shares in the last quarter. Franklin Resources Inc. increased its holdings in General Electric by 11.0% during the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after purchasing an additional 20,275,020 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in General Electric by 43.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after purchasing an additional 27,527,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in General Electric by 15.2% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after purchasing an additional 9,835,343 shares in the last quarter. Finally, Morgan Stanley increased its holdings in General Electric by 26.1% during the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock worth $741,852,000 after purchasing an additional 11,294,608 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

About General Electric

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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