Barclays assumed coverage on shares of General Electric (NYSE:GE) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $16.00 price objective on the conglomerate’s stock.
Several other research analysts have also recently weighed in on GE. JPMorgan Chase & Co. reaffirmed a sell rating and set a target price on shares of General Electric in a research note on Thursday, October 19th. Cowen reaffirmed a hold rating and set a $24.00 target price on shares of General Electric in a research note on Friday, October 20th. UBS Group cut General Electric from a buy rating to a neutral rating and decreased their target price for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Deutsche Bank set a $21.00 target price on General Electric and gave the company a sell rating in a research note on Monday, October 23rd. Finally, Morgan Stanley cut General Electric from an equal weight rating to an underweight rating and set a $22.00 target price for the company. in a research note on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $19.86.
General Electric (NYSE GE) opened at $15.05 on Thursday. General Electric has a 52 week low of $14.23 and a 52 week high of $30.59. The firm has a market capitalization of $130,510.00, a PE ratio of 13.94, a P/E/G ratio of 2.86 and a beta of 0.93. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same period in the prior year, the business earned $0.46 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. equities analysts forecast that General Electric will post 0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio is 44.44%.
In other General Electric news, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction that occurred on Monday, January 29th. The stock was acquired 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 owns 81,185 shares in the company, valued at approximately $1,311,949.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 58,870 shares of company stock valued at $1,049,050. 0.36% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Capital City Trust Co. FL increased its position in General Electric by 0.5% in the 2nd quarter. Capital City Trust Co. FL now owns 37,474 shares of the conglomerate’s stock worth $1,012,000 after purchasing an additional 190 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in General Electric by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 245,444 shares of the conglomerate’s stock worth $6,629,000 after purchasing an additional 10,409 shares during the last quarter. IBM Retirement Fund increased its position in General Electric by 70.4% in the 2nd quarter. IBM Retirement Fund now owns 212,832 shares of the conglomerate’s stock worth $6,424,000 after purchasing an additional 87,932 shares during the last quarter. Harbour Capital Advisors LLC increased its position in General Electric by 2,180.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 292,599 shares of the conglomerate’s stock worth $10,833,000 after purchasing an additional 279,766 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. increased its position in General Electric by 2.0% in the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 211,085 shares of the conglomerate’s stock worth $5,701,000 after purchasing an additional 4,167 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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