General Electric Company (NYSE:GE) had its price objective cut by Argus from $30.00 to $27.00 in a research note issued to investors on Monday. They currently have a buy rating on the conglomerate’s stock.
GE has been the subject of several other research reports. Vetr downgraded General Electric from a strong-buy rating to a buy rating and set a $30.48 price target for the company. in a report on Tuesday, July 4th. Morgan Stanley reaffirmed an equal weight rating and set a $26.00 price target (down previously from $27.00) on shares of General Electric in a report on Monday, July 24th. BidaskClub downgraded General Electric from a sell rating to a strong sell rating in a report on Wednesday, June 28th. Deutsche Bank AG reaffirmed a sell rating and set a $24.00 price target on shares of General Electric in a report on Thursday, June 8th. Finally, J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the company a sell rating in a report on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $28.98.
General Electric (NYSE:GE) opened at 24.32 on Monday. General Electric has a 12 month low of $23.58 and a 12 month high of $32.38. The company’s 50-day moving average is $24.74 and its 200-day moving average is $27.46. The company has a market cap of $210.56 billion, a price-to-earnings ratio of 29.62 and a beta of 1.22. General Electric also saw some unusual options trading on Monday. Stock traders bought 40,129 call options on the stock. This is an increase of approximately 145% compared to the typical volume of 16,397 call options.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that General Electric will post $1.56 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.
In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 233,253 shares of company stock worth $5,860,264. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Sabal Trust CO boosted its stake in shares of General Electric by 5.4% during the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after purchasing an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE boosted its stake in shares of General Electric by 47.2% during the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after purchasing an additional 10,025 shares in the last quarter. Windsor Financial Group LLC boosted its stake in shares of General Electric by 497.6% during the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after purchasing an additional 130,275 shares in the last quarter. Rothschild Investment Corp IL boosted its stake in shares of General Electric by 2.4% during the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after purchasing an additional 10,906 shares in the last quarter. Finally, Independence Trust CO boosted its stake in shares of General Electric by 12.3% during the first quarter. Independence Trust CO now owns 90,467 shares of the conglomerate’s stock valued at $2,695,000 after purchasing an additional 9,890 shares in the last quarter. 54.71% of the stock is currently owned by hedge funds and other institutional investors.
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