Shares of General Electric (NYSE:GE) gapped down before the market opened on Wednesday . The stock had previously closed at $18.10, but opened at $18.21. General Electric shares last traded at $17.38, with a volume of 127025894 shares.
Several analysts have recently weighed in on GE shares. Vetr cut General Electric from a “buy” rating to a “sell” rating and set a $23.72 price target on the stock. in a report on Tuesday, September 19th. JPMorgan Chase & Co. set a $22.00 price target on General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Morgan Stanley reduced their price target on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Credit Suisse Group restated an “outperform” rating and set a $30.00 price target (down from $33.00) on shares of General Electric in a report on Thursday, October 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 price target on shares of General Electric in a report on Thursday, October 12th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $22.94.
The company has a market cap of $150,460.00, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. equities research analysts expect that General Electric will post 1.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s payout ratio is presently 55.81%.
In related news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased 120,500 shares of company stock worth $2,183,220 over the last quarter. 0.36% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GE. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in General Electric by 4,215.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock valued at $1,308,727,000 after buying an additional 52,870,164 shares during the period. Franklin Resources Inc. lifted its stake in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after buying an additional 23,764,129 shares during the period. BlackRock Inc. lifted its stake in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after buying an additional 19,422,516 shares during the period. Capital Research Global Investors raised its position in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Finally, Boston Partners raised its position in shares of General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the period. 55.64% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company Profile
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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