General Electric (GE) PT Lowered to $13.00 at Barclays

General Electric (NYSE:GE) had its price objective trimmed by Barclays from $16.00 to $13.00 in a report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the conglomerate’s stock.

A number of other research analysts have also issued reports on the company. Citigroup set a $21.00 target price on General Electric and gave the company a buy rating in a research report on Monday, October 1st. UBS Group decreased their target price on General Electric from $16.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, September 5th. JPMorgan Chase & Co. reiterated a sell rating and set a $11.00 target price on shares of General Electric in a research report on Thursday, August 9th. Bank of America set a $16.00 target price on General Electric and gave the company a hold rating in a research report on Monday, September 24th. Finally, Morningstar set a $15.70 target price on General Electric and gave the company a buy rating in a research report on Monday, August 13th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.94.

Shares of NYSE:GE traded down $0.29 during midday trading on Wednesday, reaching $9.29. 263,440,570 shares of the company’s stock traded hands, compared to its average volume of 124,542,512. General Electric has a 1 year low of $9.06 and a 1 year high of $20.75. The firm has a market capitalization of $80.66 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.95. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.51.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business had revenue of $29.57 billion for the quarter, compared to analysts’ expectations of $30.08 billion. During the same quarter last year, the business earned $0.29 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that General Electric will post 0.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 5.17%. General Electric’s payout ratio is currently 45.71%.

Hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of General Electric by 158.6% in the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock worth $2,799,528,000 after acquiring an additional 126,169,069 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after acquiring an additional 20,275,020 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of General Electric by 43.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after acquiring an additional 27,527,425 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of General Electric by 15.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after acquiring an additional 9,835,343 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of General Electric by 26.1% in the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock worth $741,852,000 after acquiring an additional 11,294,608 shares during the last quarter. Institutional investors own 53.75% of the company’s stock.

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.

Further Reading: Why do company’s buyback their stock?

Analyst Recommendations for General Electric (NYSE:GE)

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One Response

  1. steve says:

    Harsco ended its merger with Brand Energy. That was smart of Harsco. Now, they should look to recover money from Brand’s ex-CEO and the ex-GE people he brought in with him.

    The CEO of Brand was negligent. He didn’t act in good faith. He brought in his friends from GE and didn’t fire them no matter what. The ex-GE guy in Houston had to be shuffled all over the country because he was despised. He was called President of Business Development. He has the polish-looking last name and was sent to Houston from California in 2011. They had to keep him on the road all the time because he couldn’t get along with anyone. Can you imagine how much that cost the company? The ex-CEO also sent him around to meet with all kinds of companies even though he was extremely obnoxious. Can you imagine how many companies he scared away and how much money was lost due to that? The ex-CEO of Brand should be held liable for this.

    Watch out for ex-GE guys. They play politics and form cliques and are a major problem in corporate America. Clayton, Dubilier, and Rice owns Brand Energy. Brand was ruined by ex-GE guys like the former CEO and the “President of Business Development” in Houston. Were they doing their fiduciary duty? Brand’s investors need to investigate the former executives and their spending immediately. Blackrock and other big names are investors in the bonds of Brand Energy.

    Some executives have moved to a company called Total Safety. That company can be investigated next. It’s owned by Littlejohn LLC, the investment firm.

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