General Electric Company (GE) Given Hold Rating at Cowen and Company
Cowen and Company reiterated their hold rating on shares of General Electric Company (NYSE:GE) in a research report report published on Monday. They currently have a $24.00 price target on the conglomerate’s stock.
“Street Q4 Industrial EBIT ests are below GE’s implied guide ($6.2B+), but still are too.”,” the firm’s analyst commented.
Other equities research analysts have also issued research reports about the company. Stifel Nicolaus raised their target price on General Electric from $32.00 to $33.00 and gave the stock a buy rating in a research report on Tuesday, April 25th. UBS AG reissued a buy rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a sell rating in a research report on Monday, May 29th. Vetr lowered General Electric from a buy rating to a hold rating and set a $28.47 target price on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a neutral rating in a research report on Friday, July 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. General Electric presently has an average rating of Hold and an average price target of $30.08.
General Electric (NYSE GE) traded up 0.5673% during trading on Monday, reaching $25.7754. The company’s stock had a trading volume of 3,898,233 shares. General Electric has a 1-year low of $25.26 and a 1-year high of $32.38. The stock has a 50 day moving average price of $26.94 and a 200 day moving average price of $28.78. The stock has a market capitalization of $223.16 billion, a PE ratio of 31.3951 and a beta of 1.21.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Analysts anticipate that General Electric will post $1.57 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
In related news, insider Alexander Dimitrief bought 1,845 shares of the stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James E. Rohr bought 27,425 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average price of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders acquired a total of 149,270 shares of company stock worth $4,113,059 over the last quarter. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Ullmann Financial Group Inc. acquired a new stake in General Electric during the first quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. acquired a new stake in General Electric during the first quarter valued at approximately $114,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. Heritage Way Advisors LLC acquired a new stake in General Electric during the fourth quarter valued at approximately $205,000. Finally, Cheviot Value Management LLC acquired a new stake in General Electric during the fourth quarter valued at approximately $208,000. 54.29% of the stock is owned by institutional investors and hedge funds.
General Electric Company Profile
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