General Electric Co. (GE) Price Target Cut to $31.00 by Analysts at Morgan Stanley
General Electric Co. (NYSE:GE) had its target price lowered by Morgan Stanley from $32.00 to $31.00 in a research report report published on Thursday. The firm currently has an equal weight rating on the stock.
GE has been the topic of a number of other reports. Goldman Sachs Group Inc. set a $28.00 price target on General Electric and gave the company a neutral rating in a report on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 price target on General Electric and gave the company a sell rating in a report on Friday, September 23rd. Zacks Investment Research lowered General Electric from a buy rating to a hold rating in a report on Wednesday, September 21st. Vetr upgraded General Electric from a hold rating to a buy rating and set a $30.83 price target on the stock in a report on Monday, September 19th. Finally, Stifel Nicolaus set a $34.00 price target on General Electric and gave the company a buy rating in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. General Electric presently has an average rating of Hold and a consensus target price of $32.81.
Shares of General Electric (NYSE:GE) traded down 0.9221% during mid-day trading on Thursday, reaching $29.0001. The company had a trading volume of 20,656,800 shares. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00. The firm’s 50-day moving average is $30.38 and its 200 day moving average is $30.78. The company has a market capitalization of $259.88 billion, a price-to-earnings ratio of 24.5140 and a beta of 1.15.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The firm 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%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, equities research analysts predict that General Electric will post $1.50 earnings per share 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is presently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’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 completion of the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Catamount Wealth Management boosted its stake in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the last quarter. Cable Hill Partners LLC boosted its position in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares during the last quarter. James Investment Research Inc. boosted its position in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the last quarter. Finally, Balentine LLC boosted its position in shares of General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock worth $187,000 after buying an additional 2,277 shares during the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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