General Electric Company (GE) Given Consensus Rating of “Hold” by Brokerages

Shares of General Electric Company (NYSE:GE) have received a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.75.

Several research firms have issued reports on GE. TheStreet cut shares of General Electric Company from a “b-” rating to a “hold” rating in a research report on Friday. Deutsche Bank AG cut shares of General Electric Company from a “hold” rating to a “sell” rating and lowered their price objective for the company from $28.00 to $24.00 in a research report on Friday, May 12th. Vetr cut shares of General Electric Company from a “buy” rating to a “hold” rating and set a $28.47 price objective for the company. in a research report on Thursday, May 11th. Stifel Nicolaus boosted their price objective on shares of General Electric Company from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Finally, Bank of America Corp cut shares of General Electric Company from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $31.00 in a research report on Tuesday, April 25th.

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In related news, Director Marijn E. Dekkers purchased 20,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $598,000.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $29,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Beattie purchased 4,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $27.70 per share, for a total transaction of $110,800.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 140,000 shares of company stock worth $3,964,600 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment Corp IL raised its position in shares of General Electric Company by 4.6% in the third quarter. Rothschild Investment Corp IL now owns 504,506 shares of the conglomerate’s stock worth $14,943,000 after buying an additional 22,344 shares during the last quarter. NBW Capital LLC bought a new position in shares of General Electric Company during the third quarter worth about $2,853,000. Discovery Capital Management LLC CT bought a new position in shares of General Electric Company during the fourth quarter worth about $29,719,000. Jarislowsky Fraser Ltd raised its position in shares of General Electric Company by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock worth $128,787,000 after buying an additional 211,742 shares during the last quarter. Finally, Roundview Capital LLC increased its stake in General Electric Company by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock valued at $2,417,000 after buying an additional 1,515 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.

General Electric Company (NYSE:GE) traded up 2.07% during trading on Tuesday, reaching $28.05. 48,488,671 shares of the company were exchanged. General Electric Company has a 1-year low of $27.10 and a 1-year high of $33.00. The stock has a market capitalization of $243.59 billion, a P/E ratio of 28.56 and a beta of 1.20. The company’s 50-day moving average price is $29.29 and its 200-day moving average price is $30.19. General Electric Company also saw some unusual options trading activity on Thursday. Stock traders purchased 59,914 call options on the stock. This is an increase of 163% compared to the typical volume of 22,743 call options.

General Electric Company (NYSE:GE) last released its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $27.66 billion during the quarter, compared to analysts’ expectations of $26.37 billion. General Electric Company had a net margin of 6.86% and a return on equity of 15.99%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, equities analysts forecast that General Electric Company will post $1.63 EPS for the current year.

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