Oppenheimer Holdings Analysts Reduce Earnings Estimates for General Electric Co. (GE)
General Electric Co. (NYSE:GE) – Investment analysts at Oppenheimer Holdings reduced their Q3 2016 earnings per share (EPS) estimates for shares of General Electric in a note issued to investors on Tuesday. Oppenheimer Holdings analyst C. Glynn now expects that the firm will post earnings of $0.30 per share for the quarter, down from their previous forecast of $0.33. Oppenheimer Holdings has a “Market Perform” rating on the stock.
Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. set a $28.00 price objective on General Electric and gave the stock a “sell” rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. set a $29.00 price target on General Electric and gave the company a “neutral” rating in a report on Monday, June 27th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 price target on the stock in a report on Thursday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Finally, William Blair restated an “outperform” rating and set a $38.00 price target on shares of General Electric in a report on Wednesday, June 29th. 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $32.81.
General Electric (NYSE:GE) opened at 29.08 on Thursday. The stock has a market cap of $260.59 billion, a price-to-earnings ratio of 24.58 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 firm’s 50-day moving average price is $30.31 and its 200 day moving average price is $30.77.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business earned $33.49 million during 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 quarter last year, the firm posted $0.31 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Patten & Patten Inc. TN boosted its position in shares of 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 in the last quarter. Baxter Bros Inc. bought a new position in shares of General Electric during the second quarter valued at $11,436,000. Howland Capital Management LLC boosted 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 valued at $39,526,000 after buying an additional 89,178 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted 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 valued at $9,138,000 after buying an additional 3,405 shares in the last quarter. Finally, Cacti Asset Management LLC boosted 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 valued at $3,070,000 after buying an additional 1,175 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction dated 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 in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
General Electric Company Profile
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