General Electric Co. (NYSE:GE) – Equities researchers at Oppenheimer Holdings cut their FY2016 earnings estimates for shares of General Electric in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst C. Glynn now anticipates that the brokerage will post earnings per share of $1.50 for the year, down from their prior estimate of $1.53. Oppenheimer Holdings currently 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share.
A number of other equities research analysts have also commented on GE. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target on the stock. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research report on Wednesday, June 29th. William Blair set a $38.00 price target on General Electric and gave the stock a “buy” rating in a research report on Thursday, September 8th. Finally, Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Two 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. The company has an average rating of “Hold” and a consensus target price of $32.81.
General Electric (NYSE:GE) traded down 0.89% on Friday, reaching $29.01. The company had a trading volume of 21,993,239 shares. The firm has a 50 day moving average price of $30.38 and a 200-day moving average price of $30.78. The stock has a market capitalization of $259.97 billion, a price-to-earnings ratio of 24.52 and a beta of 1.15. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00.
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 given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
Several large investors have recently modified their holdings of the company. R.H. Dinel Investment Counsel Inc. boosted its stake in shares of General Electric by 29.4% in the third quarter. R.H. Dinel Investment Counsel Inc. now owns 85,500 shares of the company’s stock worth $2,533,000 after buying an additional 19,425 shares in the last quarter. Bremer Trust National Association boosted its stake in shares of General Electric by 4.3% in the third quarter. Bremer Trust National Association now owns 76,196 shares of the company’s stock worth $2,257,000 after buying an additional 3,116 shares in the last quarter. Independence Advisors LLC boosted its stake in shares of General Electric by 17.8% in the third quarter. Independence Advisors LLC now owns 16,738 shares of the company’s stock worth $496,000 after buying an additional 2,534 shares in the last quarter. VNBTrust National Association boosted its stake in shares of General Electric by 0.7% in the third quarter. VNBTrust National Association now owns 59,300 shares of the company’s stock worth $1,757,000 after buying an additional 415 shares in the last quarter. Finally, Bonness Enterprises Inc. boosted its stake in shares of General Electric by 1.8% in the third quarter. Bonness Enterprises Inc. now owns 178,278 shares of the company’s stock worth $5,281,000 after buying an additional 3,100 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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