General Electric (NYSE:GE) has earned a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.94.
Several equities research analysts have recently commented on GE shares. Bank of America restated a “hold” rating and issued a $14.00 target price on shares of General Electric in a research note on Thursday, October 4th. Credit Suisse Group restated a “neutral” rating and issued a $12.00 target price on shares of General Electric in a research note on Wednesday, October 31st. Royal Bank of Canada restated a “neutral” rating and issued a $15.00 target price on shares of General Electric in a research note on Wednesday, August 8th. ValuEngine upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th.
In other news, SVP Alexander Dimitrief acquired 10,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $9.48 per share, with a total value of $94,800.00. Following the acquisition, the senior vice president now owns 103,075 shares of the company’s stock, valued at approximately $977,151. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. Insiders own 1.12% of the company’s stock.
Large investors have recently made changes to their positions in the business. HC Financial Advisors Inc. purchased a new position in shares of General Electric during the fourth quarter valued at approximately $281,000. Palouse Capital Management Inc. boosted its position in shares of General Electric by 20.1% during the first quarter. Palouse Capital Management Inc. now owns 192,640 shares of the conglomerate’s stock valued at $2,597,000 after buying an additional 32,217 shares during the period. B. Riley Financial Inc. boosted its position in shares of General Electric by 40.9% during the first quarter. B. Riley Financial Inc. now owns 19,328 shares of the conglomerate’s stock valued at $261,000 after buying an additional 5,612 shares during the period. Barings LLC boosted its position in shares of General Electric by 533.0% during the first quarter. Barings LLC now owns 118,762 shares of the conglomerate’s stock valued at $1,601,000 after buying an additional 100,000 shares during the period. Finally, Pzena Investment Management LLC purchased a new position in shares of General Electric during the first quarter valued at approximately $52,885,000. 53.81% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:GE opened at $9.10 on Tuesday. General Electric has a 52 week low of $9.05 and a 52 week high of $20.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66. The firm has a market capitalization of $81.79 billion, a PE ratio of 8.67, a PEG ratio of 2.53 and a beta of 0.95.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that General Electric will post 0.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.27%. General Electric’s dividend payout ratio is 45.71%.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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