General Electric (NYSE:GE) Given a $11.00 Price Target at Credit Suisse Group

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Credit Suisse Group set a $11.00 price objective on General Electric (NYSE:GE) in a research note published on Friday, 24/7 WallStreet reports. The brokerage currently has a hold rating on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley started coverage on shares of General Electric in a research note on Thursday, September 5th. They issued an equal weight rating and a $10.00 price objective on the stock. William Blair restated a buy rating on shares of General Electric in a research report on Friday, August 16th. ValuEngine lowered shares of General Electric from a hold rating to a sell rating in a research report on Thursday, August 22nd. Zacks Investment Research lowered shares of General Electric from a strong-buy rating to a hold rating and set a $12.00 target price on the stock. in a research report on Friday, August 2nd. Finally, UBS Group lowered shares of General Electric from a buy rating to a neutral rating and cut their target price for the company from $13.00 to $11.50 in a research report on Monday, July 15th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $11.58.

Shares of NYSE:GE opened at $9.34 on Friday. The company’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $9.75. The stock has a market capitalization of $80.81 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. General Electric has a 1 year low of $6.66 and a 1 year high of $13.78.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. As a group, analysts anticipate that General Electric will post 0.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s payout ratio is 6.15%.

In other news, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider L Kevin Cox bought 105,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $9.42 per share, for a total transaction of $994,752.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 801,068 shares of company stock worth $6,954,745. 1.13% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Ashburton Jersey Ltd bought a new stake in shares of General Electric during the second quarter worth about $25,000. Fusion Family Wealth LLC increased its position in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 2,629 shares in the last quarter. Employers Holdings Inc. bought a new stake in shares of General Electric during the second quarter worth about $28,000. Manchester Financial Inc. bought a new stake in shares of General Electric during the second quarter worth about $30,000. Finally, Princeton Global Asset Management LLC increased its position in shares of General Electric by 307,700.0% during the second quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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