BidaskClub upgraded shares of General Electric Company (NYSE:GE) from a strong sell rating to a sell rating in a research note published on Saturday.
Other research analysts also recently issued research reports about the stock. Vetr downgraded shares of General Electric Company from a strong-buy rating to a buy rating and set a $33.56 target price for the company. in a report on Tuesday, April 4th. William Blair reaffirmed a buy rating on shares of General Electric Company in a report on Saturday, April 1st. Sanford C. Bernstein set a $38.00 target price on shares of General Electric Company and gave the stock a buy rating in a report on Friday, February 24th. Credit Suisse Group reaffirmed a buy rating and issued a $34.00 target price on shares of General Electric Company in a report on Tuesday, April 11th. Finally, Argus dropped their target price on shares of General Electric Company from $36.00 to $33.00 and set a buy rating for the company in a report on Monday, April 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. General Electric Company currently has a consensus rating of Hold and a consensus target price of $31.41.
Shares of General Electric Company (NYSE GE) traded up 0.21% during midday trading on Friday, hitting $29.00. The company had a trading volume of 81,565,622 shares. The stock has a 50 day moving average price of $28.29 and a 200 day moving average price of $29.89. General Electric Company has a 1-year low of $27.10 and a 1-year high of $33.00. The firm has a market capitalization of $251.83 billion, a P/E ratio of 29.53 and a beta of 1.25.
General Electric Company (NYSE:GE) last issued its earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $27.66 billion during the quarter, compared to the consensus estimate of $26.37 billion. General Electric Company had a net margin of 7.48% and a return on equity of 16.59%. General Electric Company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. On average, equities analysts anticipate that General Electric Company will post $1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, June 15th. General Electric Company’s dividend payout ratio (DPR) is currently 97.96%.
In other news, Director William G. Beattie acquired 16,000 shares of General Electric Company stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $28.05 per share, with a total value of $448,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of General Electric Company stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the transaction, the chairman now directly owns 2,561,926 shares in the company, valued at $71,913,262.82. The disclosure for this purchase can be found here. Insiders purchased a total of 140,000 shares of company stock worth $3,964,600 over the last three months. 0.36% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in General Electric Company during the fourth quarter worth $177,435,000. First Bank & Trust purchased a new stake in General Electric Company during the fourth quarter worth $306,000. Aveo Capital Partners LLC purchased a new stake in General Electric Company during the fourth quarter worth $1,429,000. Cornercap Investment Counsel Inc. raised its stake in General Electric Company by 1.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 7,488 shares of the conglomerate’s stock worth $237,000 after buying an additional 111 shares during the period. Finally, Hall Laurie J Trustee purchased a new stake in General Electric Company during the fourth quarter worth $10,823,000. 55.08% of the stock is currently owned by institutional investors.
General Electric Company Company Profile
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