General Electric Company (GE) Receives Market Perform Rating from Oppenheimer Holdings, Inc.
GE has been the topic of several other reports. Barclays PLC reiterated an overweight rating and issued a $36.00 target price on shares of General Electric Company in a report on Monday, March 20th. Zacks Investment Research lowered shares of General Electric Company from a hold rating to a sell rating in a report on Tuesday, March 7th. Sanford C. Bernstein set a $38.00 target price on shares of General Electric Company and gave the stock a buy rating in a report on Friday, February 24th. Deutsche Bank AG set a $24.00 target price on shares of General Electric Company and gave the stock a sell rating in a report on Monday, May 29th. Finally, BMO Capital Markets reiterated a hold rating on shares of General Electric Company in a report on Thursday, March 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $31.39.
General Electric Company (NYSE GE) traded up 0.861% on Wednesday, hitting $28.695. The company’s stock had a trading volume of 20,045,278 shares. The company has a 50 day moving average price of $28.31 and a 200-day moving average price of $29.92. General Electric Company has a 1-year low of $27.10 and a 1-year high of $33.00. The company has a market capitalization of $249.19 billion, a P/E ratio of 29.221 and a beta of 1.25. General Electric Company also saw unusually large options trading activity on Monday. Traders acquired 10,326 put options on the stock. This represents an increase of 318% compared to the average volume of 2,473 put options.
General Electric Company (NYSE:GE) last posted its earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The company had revenue of $27.66 billion for the quarter, compared to analyst estimates of $26.37 billion. General Electric Company had a net margin of 7.48% and a return on equity of 16.59%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, equities analysts forecast that General Electric Company will post $1.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, June 15th. General Electric Company’s dividend payout ratio (DPR) is presently 97.96%.
In other news, Director William G. Beattie acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $27.70 per share, with a total value of $110,800.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the transaction, the chairman now owns 2,561,926 shares in the company, valued at $71,913,262.82. The disclosure for this purchase can be found here. In the last three months, insiders bought 140,000 shares of company stock valued at $3,964,600. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TrueNorth Inc. purchased a new position in shares of General Electric Company during the third quarter worth approximately $1,000,000. Barnett & Company Inc. increased its position in shares of General Electric Company by 12.6% in the third quarter. Barnett & Company Inc. now owns 6,721 shares of the conglomerate’s stock worth $199,000 after buying an additional 751 shares during the period. RGT Capital Management Ltd. purchased a new position in shares of General Electric Company during the third quarter worth approximately $410,000. Mcmillion Capital Management Inc. increased its position in shares of General Electric Company by 5.6% in the third quarter. Mcmillion Capital Management Inc. now owns 114,712 shares of the conglomerate’s stock worth $3,398,000 after buying an additional 6,110 shares during the period. Finally, First Heartland Consultants Inc. increased its position in shares of General Electric Company by 2.6% in the third quarter. First Heartland Consultants Inc. now owns 52,671 shares of the conglomerate’s stock worth $1,560,000 after buying an additional 1,323 shares during the period. 55.08% of the stock is owned by institutional investors.
General Electric Company Company Profile
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