GE Stock – General Electric (NYSE:GE) Receives Consensus Rating of “Hold” from Analysts
General Electric (NYSE:GE) has received an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.69.
A number of equities analysts recently weighed in on GE shares. Morgan Stanley boosted their price target on shares of General Electric from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 10th. Credit Suisse Group restated a “neutral” rating and set a $13.00 price target on shares of General Electric in a research report on Monday, March 8th. Barclays boosted their price target on shares of General Electric from $15.00 to $13.00 in a research report on Thursday, March 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, March 17th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of General Electric in a research report on Tuesday, January 26th.
In related news, Director Paula Rosput Reynolds bought 5,000 shares of the stock in a transaction dated Friday, March 12th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $62,500.00. Following the acquisition, the director now owns 26,500 shares in the company, valued at approximately $331,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GE. Thrivent Financial for Lutherans increased its holdings in shares of General Electric by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 504,455 shares of the conglomerate’s stock valued at $3,142,000 after purchasing an additional 4,416 shares in the last quarter. Barings LLC boosted its position in shares of General Electric by 84.3% in the third quarter. Barings LLC now owns 68,781 shares of the conglomerate’s stock worth $429,000 after acquiring an additional 31,461 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of General Electric by 3.3% in the third quarter. Handelsbanken Fonder AB now owns 2,038,159 shares of the conglomerate’s stock worth $12,698,000 after acquiring an additional 64,703 shares during the last quarter. MUFG Securities EMEA plc boosted its position in shares of General Electric by 68.7% in the third quarter. MUFG Securities EMEA plc now owns 1,092,332 shares of the conglomerate’s stock worth $6,805,000 after acquiring an additional 444,688 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in General Electric by 22.2% in the third quarter. Guggenheim Capital LLC now owns 429,895 shares of the conglomerate’s stock valued at $2,678,000 after buying an additional 78,191 shares during the period. Hedge funds and other institutional investors own 60.09% of the company’s stock.
Shares of NYSE GE opened at $12.95 on Tuesday. The company’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $10.07. General Electric has a 52-week low of $5.48 and a 52-week high of $14.41. The firm has a market cap of $113.76 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. The company has a quick ratio of 2.04, a current ratio of 2.31 and a debt-to-equity ratio of 2.10.
General Electric (NYSE:GE) last announced its earnings results on Monday, January 25th. The conglomerate reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). General Electric had a net margin of 4.52% and a return on equity of 5.37%. The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $21.62 billion. During the same quarter last year, the business earned $0.21 EPS. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 0.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 26th. Stockholders of record on Monday, March 8th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, March 5th. General Electric’s payout ratio is 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. The company’s Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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