CIBC Reaffirms Market Perform Rating for General Electric Company (GE)

CIBC reaffirmed their market perform rating on shares of General Electric Company (NYSE:GE) in a research note published on Wednesday morning.

A number of other research firms also recently weighed in on GE. Sanford C. Bernstein set a $38.00 price target on shares of General Electric Company and gave the company a buy rating in a research note on Friday, February 24th. Royal Bank Of Canada restated an outperform rating and issued a $37.00 price target on shares of General Electric Company in a research note on Monday, March 6th. Zacks Investment Research downgraded shares of General Electric Company from a hold rating to a sell rating in a research note on Tuesday, March 7th. J P Morgan Chase & Co set a $29.00 price target on shares of General Electric Company and gave the company a sell rating in a research note on Tuesday, March 14th. Finally, Barclays PLC restated an overweight rating and issued a $36.00 price target on shares of General Electric Company in a research note on Monday, March 20th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $31.41.

General Electric Company (GE) opened at 28.80 on Wednesday. General Electric Company has a 12-month low of $27.10 and a 12-month high of $33.00. The stock’s 50 day moving average is $28.29 and its 200 day moving average is $29.86. The company has a market cap of $250.10 billion, a P/E ratio of 29.33 and a beta of 1.25.

General Electric Company (NYSE:GE) last announced its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $27.66 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company 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 year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, June 15th. General Electric Company’s payout ratio is 97.96%.

In other General Electric Company news, Director Marijn E. Dekkers purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was bought at an average price of $29.90 per share, with a total value of $598,000.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $29,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey R. Immelt purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the purchase, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The disclosure for this purchase can be found here. Insiders purchased 140,000 shares of company stock valued at $3,964,600 in the last ninety days. 0.36% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of GE. Fusion Family Wealth LLC purchased a new position in General Electric Company during the fourth quarter worth about $100,000. Ullmann Financial Group Inc. bought a new position in shares of General Electric Company during the first quarter valued at $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric Company during the first quarter valued at $114,000. PHH Investments Ltd. increased its position in shares of General Electric Company 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 during the last quarter. Finally, Empirical Finance LLC bought a new position in shares of General Electric Company during the fourth quarter valued at $140,000. Institutional investors and hedge funds own 55.06% of the company’s stock.

General Electric Company Company Profile

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