General Electric (NYSE:GE) had its price objective decreased by JPMorgan Chase & Co. from $10.00 to $6.00 in a report released on Friday, Marketbeat reports. JPMorgan Chase & Co. currently has an underweight rating on the conglomerate’s stock.
A number of other brokerages have also commented on GE. Deutsche Bank set a $15.00 price target on General Electric and gave the company a hold rating in a research note on Thursday, July 12th. MED raised General Electric from a sell rating to a hold rating and set a $15.00 price target on the stock in a research note on Thursday, July 12th. Gabelli reissued a buy rating on shares of General Electric in a research note on Wednesday, July 18th. Citigroup cut their price target on General Electric from $21.00 to $19.00 and set a neutral rating on the stock in a research note on Tuesday, October 9th. Finally, Goldman Sachs Group set a $14.00 price target on General Electric and gave the company a neutral rating in a research note on Friday, July 20th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $14.72.
NYSE:GE traded down $0.52 during trading hours on Friday, hitting $8.58. The company’s stock had a trading volume of 273,290,486 shares, compared to its average volume of 129,475,088. The firm has a market capitalization of $79.88 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.47 and a beta of 0.95. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. General Electric has a twelve month low of $8.15 and a twelve month high of $20.75.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm had revenue of $29.57 billion for the quarter, compared to analyst estimates of $30.08 billion. During the same period in the previous year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.59%. General Electric’s dividend payout ratio (DPR) is 45.71%.
In other General Electric news, SVP Alexander Dimitrief bought 10,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the completion of the acquisition, the senior vice president now owns 103,075 shares in the company, valued at approximately $977,151. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman H Lawrence Culp, Jr. bought 225,000 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average price of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. 1.12% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in General Electric by 158.6% in the second 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 shares of General Electric by 11.0% during the first quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of General Electric by 43.9% during the first quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after acquiring an additional 27,527,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of General Electric by 15.2% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock valued at $1,005,486,000 after acquiring an additional 9,835,343 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of General Electric by 26.1% during the second quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after acquiring an additional 11,294,608 shares in the last quarter. Institutional investors and hedge funds own 53.81% of the company’s stock.
General Electric Company Profile
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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