General Electric Co. (GE) Stock Price Down 2.1%
Shares of General Electric Co. (NYSE:GE) traded down 2.1% during mid-day trading on Friday . The company traded as low as $31.69 and last traded at $31.92, with a volume of 34,317,807 shares changing hands. The stock had previously closed at $32.59.
A number of analysts have recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating on shares of General Electric in a research report on Sunday, April 17th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research report on Thursday, April 28th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Standpoint Research assumed coverage on General Electric in a research report on Friday. They set a “sell” rating and a $26.00 price target for the company. Finally, William Blair reiterated an “outperform” rating and set a $38.00 price target on shares of General Electric in a research report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. General Electric has an average rating of “Hold” and an average target price of $32.53.
The company has a 50 day moving average of $31.20 and a 200-day moving average of $30.21. The company has a market cap of $294.81 billion and a price-to-earnings ratio of 43.44.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts anticipate that General Electric Co. will post $1.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 20th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, June 16th.
In related news, CEO Jeffrey R. Immelt acquired 67,600 shares of the stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $29.59 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Other large investors recently bought and sold shares of the company. Buckingham Capital Management Inc. raised 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 valued at $4,530,000 after buying an additional 6,325 shares during the last quarter. Toth Financial increased its stake in shares of General Electric by 1.7% in the fourth quarter. Toth Financial now owns 282,981 shares of the company’s stock valued at $8,815,000 after buying an additional 4,756 shares during the last quarter. Finally, Jennison Associates acquired a new stake in shares of General Electric during the third quarter valued at $35,297,000.
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