General Electric’s (GE) “Market Perform” Rating Reiterated at Oppenheimer Holdings Inc.
Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley cut their price objective on shares of General Electric from $32.00 to $31.00 and set an equal weight rating for the company in a research report on Thursday, October 6th. Zacks Investment Research cut shares of General Electric from a buy rating to a hold rating in a research report on Monday, October 3rd. Goldman Sachs Group Inc. set a $28.00 price objective on shares of General Electric and gave the stock a neutral rating in a research report on Friday, September 30th. Vetr raised shares of General Electric from a hold rating to a buy rating and set a $32.04 price objective for the company in a research report on Monday, September 26th. Finally, JPMorgan Chase & Co. set a $28.00 price objective on shares of General Electric and gave the stock a sell rating in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. General Electric currently has a consensus rating of Hold and a consensus target price of $32.78.
Shares of General Electric (NYSE:GE) opened at 28.86 on Thursday. The stock’s 50 day moving average is $30.25 and its 200 day moving average is $30.75. The firm has a market cap of $258.62 billion, a PE ratio of 24.40 and a beta of 1.15. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. During the same period in the prior year, the company posted $0.31 earnings per share. General Electric’s revenue was up 14.6% compared to the same quarter last year. Analysts forecast that General Electric will post $1.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the acquisition, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. 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 worth $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. purchased a new position in shares of General Electric during the second quarter worth about $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 worth $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 worth $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 worth $3,070,000 after buying an additional 1,175 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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