General Electric Co. (NYSE:GE) – Research analysts at Oppenheimer Holdings decreased their Q3 2016 EPS estimates for shares of General Electric in a research report issued on Tuesday. Oppenheimer Holdings analyst C. Glynn now expects that the brokerage will post earnings per share of $0.30 for the quarter, down from their previous estimate of $0.33. Oppenheimer Holdings has a “Market Perform” rating on the stock.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis.
GE has been the subject of several other research reports. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 price objective for the company in a research report on Thursday, July 7th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $26.00 price objective on shares of General Electric in a research report on Thursday, August 11th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Stifel Nicolaus set a $34.00 price objective on General Electric and gave the company a “buy” rating in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.60.
Shares of General Electric (NYSE:GE) traded down 0.71% during midday trading on Thursday, hitting $29.29. The stock had a trading volume of 15,423,555 shares. The firm’s 50-day moving average price is $30.44 and its 200-day moving average price is $30.79. General Electric has a one year low of $27.10 and a one year high of $33.00. The firm has a market capitalization of $262.47 billion, a PE ratio of 24.76 and a beta of 1.15.
A number of hedge funds have recently added to or reduced their stakes in GE. Patten & Patten Inc. TN raised its stake in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares during the last quarter. Baxter Bros Inc. acquired a new position in shares of General Electric during the second quarter worth $11,436,000. Howland Capital Management LLC increased its position in shares of General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares during the period. Osborn Rohs Williams & Donohoe Ltd increased its position in shares of General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock worth $9,138,000 after buying an additional 3,405 shares during the period. Finally, Cacti Asset Management LLC increased its position in shares of General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock worth $3,070,000 after buying an additional 1,175 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.12%. General Electric’s payout ratio is presently 77.97%.
General Electric Company Profile
Receive News & Ratings for General Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.