Sanford C. Bernstein reissued their market perform rating on shares of General Electric Co. (NYSE:GE) in a research report report published on Wednesday. They currently have a $34.00 price target on the stock.
GE has been the topic of a number of other reports. Credit Suisse Group AG reissued a buy rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. reissued a market perform rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr downgraded shares of General Electric from a buy rating to a hold rating and set a $30.93 price objective on the stock. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reissued a sell rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of General Electric from a sell rating to a hold rating in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $32.70.
General Electric (NYSE:GE) opened at 28.85 on Wednesday. General Electric has a 52-week low of $27.10 and a 52-week high of $33.00. The firm has a market capitalization of $258.53 billion, a P/E ratio of 24.39 and a beta of 1.15. The company’s 50-day moving average is $29.91 and its 200-day moving average is $30.65.
General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 9.14% and a return on equity of 15.04%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts predict that General Electric will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.19%. General Electric’s dividend payout ratio (DPR) is currently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 575,093,558 shares of the company’s stock worth $18,103,945,000 after buying an additional 3,276,096 shares during the period. BlackRock Fund Advisors increased its stake in shares of General Electric by 2.3% in the second quarter. BlackRock Fund Advisors now owns 108,746,040 shares of the company’s stock worth $3,423,325,000 after buying an additional 2,477,059 shares during the period. BlackRock Group LTD increased its stake in shares of General Electric by 0.3% in the second quarter. BlackRock Group LTD now owns 75,537,924 shares of the company’s stock worth $2,377,934,000 after buying an additional 262,526 shares during the period. Trian Fund Management L.P. increased its stake in shares of General Electric by 0.7% in the second quarter. Trian Fund Management L.P. now owns 74,766,576 shares of the company’s stock worth $2,353,652,000 after buying an additional 521,321 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of General Electric by 4.6% in the second quarter. Legal & General Group Plc now owns 43,928,772 shares of the company’s stock worth $1,381,942,000 after buying an additional 1,918,773 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
About General Electric
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