General Electric Co. (GE) Hits New 12-Month High at $32.95
Shares of General Electric Co. (NYSE:GE) hit a new 52-week high during trading on Friday . The company traded as high as $32.95 and last traded at $32.75, with a volume of 20,475,589 shares trading hands. The stock had previously closed at $32.63.
A number of brokerages recently commented on GE. Deutsche Bank AG reaffirmed a “hold” rating on shares of General Electric in a research report on Sunday, April 17th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a report on Thursday, April 28th. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a report on Saturday, July 9th. William Blair reissued an “outperform” rating and set a $38.00 price objective on shares of General Electric in a report on Wednesday, May 25th. Finally, Royal Bank Of Canada boosted their price objective on General Electric from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.88.
The firm has a 50-day moving average of $30.78 and a 200-day moving average of $30.13. The stock has a market cap of $301.62 billion and a PE ratio of 44.44.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, April 22nd. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $27.60 billion for the quarter, compared to the consensus estimate of $27.67 billion. During the same period last year, the business earned $0.20 EPS. General Electric’s revenue was up 6.4% on a year-over-year basis. Equities analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Monday, June 20th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, June 16th.
In other news, CEO Jeffrey R. Immelt purchased 67,600 shares of General Electric stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average price of $29.59 per share, with a total value of $2,000,284.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,688 shares of the company’s stock, valued at $63,875,577.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Other large investors have recently made changes to their positions in the company. Jennison Associates purchased a new stake in shares of General Electric during the third quarter valued at $35,297,000. Buckingham Capital Management Inc. increased its stake in General Electric by 3.6% in the third quarter. Buckingham Capital Management Inc. now owns 179,622 shares of the company’s stock worth $4,530,000 after buying an additional 6,325 shares during the period. Finally, Toth Financial increased its stake in General Electric by 1.7% in the fourth quarter. Toth Financial now owns 282,981 shares of the company’s stock worth $8,815,000 after buying an additional 4,756 shares during the period.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.