General Electric (NYSE:GE) had its target price cut by Citigroup from $21.00 to $19.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the conglomerate’s stock.
A number of other equities analysts also recently weighed in on GE. Zacks Investment Research downgraded General Electric from a hold rating to a strong sell rating in a research note on Friday, June 22nd. JPMorgan Chase & Co. set a $11.00 target price on General Electric and gave the stock a sell rating in a research note on Wednesday, June 27th. 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, June 20th. Goldman Sachs Group restated a neutral rating and issued a $14.00 target price on shares of General Electric in a research note on Wednesday, June 27th. Finally, Oppenheimer reiterated a neutral rating on shares of General Electric in a research note on Tuesday, October 2nd. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. General Electric currently has an average rating of Hold and an average target price of $16.26.
Shares of NYSE GE opened at $12.32 on Tuesday. General Electric has a twelve month low of $11.21 and a twelve month high of $23.84. The company has a market capitalization of $98.03 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that General Electric will post 0.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 3.90%. General Electric’s payout ratio is 45.71%.
In other news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were acquired at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.12% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Buckley Wealth Management LLC increased its holdings in shares of General Electric by 1.3% in the first quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after purchasing an additional 3,575 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of General Electric by 28.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock worth $221,000 after purchasing an additional 3,600 shares during the period. Legacy Advisors LLC increased its holdings in shares of General Electric by 16.3% in the second quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock worth $356,000 after purchasing an additional 3,669 shares during the period. Home Federal Bank of Tennessee increased its holdings in shares of General Electric by 7.4% in the second quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock worth $725,000 after purchasing an additional 3,675 shares during the period. Finally, Advisors Capital Management LLC increased its holdings in shares of General Electric by 7.6% in the first quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock worth $711,000 after purchasing an additional 3,714 shares during the period. 53.74% of the stock is currently owned by institutional investors and hedge funds.
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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