General Electric (NYSE:GE) has received a consensus rating of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.50.
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $11.50 in a research note on Monday, July 15th. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Citigroup set a $14.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Finally, Zacks Investment Research cut shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Friday, August 2nd.
GE stock traded up $0.30 on Thursday, hitting $9.35. The company had a trading volume of 73,660,505 shares, compared to its average volume of 75,362,219. General Electric has a 12-month low of $6.66 and a 12-month high of $13.78. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The company has a 50-day moving average of $10.16. The company has a market capitalization of $79.85 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.98 and a beta of 1.03.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is 6.15%.
In related news, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $250,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashburton Jersey Ltd bought a new stake in General Electric in the 2nd quarter valued at $25,000. Employers Holdings Inc. bought a new stake in General Electric in the 2nd quarter valued at $28,000. Fusion Family Wealth LLC increased its holdings in General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after acquiring an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC bought a new stake in General Electric in the 4th quarter valued at $30,000. Finally, Manchester Financial Inc. bought a new stake in General Electric in the 2nd quarter valued at $30,000. Institutional investors own 57.49% of the company’s stock.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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