General Electric Co. (GE) Reaches New 12-Month High at $32.95
General Electric Co. (NYSE:GE)’s share price hit a new 52-week high during mid-day 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. The stock had previously closed at $32.63.
A number of equities analysts have recently issued reports on the company. Deutsche Bank AG reaffirmed a “hold” rating on shares of General Electric in a research report on Sunday, April 17th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research report on Thursday, April 28th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. William Blair reaffirmed an “outperform” rating and set a $38.00 price target on shares of General Electric in a research report on Wednesday, May 25th. Finally, Royal Bank Of Canada upped their price target on General Electric from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $32.88.
The company has a market capitalization of $302.35 billion and a PE ratio of 44.55. The firm has a 50-day moving average of $30.86 and a 200-day moving average of $30.15.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, April 22nd. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The company had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.67 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. General Electric’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that General Electric Co. will post $1.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Monday, June 20th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.92 annualized dividend and a yield of 2.80%.
In related news, CEO Jeffrey R. Immelt purchased 67,600 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average cost of $29.59 per share, for a total transaction of $2,000,284.00. Following the purchase, the chief executive officer now directly owns 2,158,688 shares of the company’s stock, valued at $63,875,577.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds and institutional investors have bought and sold shares of GE. Toth Financial raised its position 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 in the last quarter. Buckingham Capital Management Inc. raised its position 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 in the last quarter. Finally, Jennison Associates acquired a new position in General Electric during the third quarter worth approximately $35,297,000.
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