Gordon Haskett assumed coverage on shares of General Electric (NYSE:GE) in a research note published on Friday morning, MarketBeat.com reports. The brokerage issued a sell rating on the conglomerate’s stock.
Other equities analysts have also issued research reports about the company. UBS Group lowered General Electric to an add rating and set a $23.00 price target on the stock. in a report on Tuesday, October 2nd. Citigroup lowered their price target on General Electric from $22.00 to $21.00 and set a buy rating on the stock in a report on Friday, June 29th. Gabelli reissued a buy rating on shares of General Electric in a report on Wednesday, July 18th. Morningstar set a $15.70 price target on General Electric and gave the stock a buy rating in a report on Monday, August 13th. Finally, Deutsche Bank set a $15.00 price target on General Electric and gave the stock a hold rating in a report on Thursday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric presently has an average rating of Hold and an average target price of $16.26.
Shares of GE stock traded down $0.40 during mid-day trading on Friday, hitting $12.32. 121,772,822 shares of the stock were exchanged, compared to its average volume of 76,816,289. The firm has a market cap of $98.03 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.14 and a beta of 0.97. General Electric has a 12-month low of $11.21 and a 12-month high of $23.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion for the quarter, compared to analyst estimates of $29.39 billion. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. As a group, research analysts predict that General Electric will post 0.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, September 14th. General Electric’s dividend payout ratio is presently 45.71%.
In other General Electric news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the stock in a transaction on Tuesday, July 24th. The shares were bought at an average price of $13.04 per share, with a total value of $2,490,640.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GE. Buckley Wealth Management LLC lifted its holdings in General Electric by 1.3% in the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after buying an additional 3,575 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of General Electric by 28.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock valued at $221,000 after purchasing an additional 3,600 shares in the last quarter. Legacy Advisors LLC raised its stake in shares of General Electric by 16.3% in the 2nd quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock valued at $356,000 after purchasing an additional 3,669 shares in the last quarter. Home Federal Bank of Tennessee raised its stake in shares of General Electric by 7.4% in the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock valued at $725,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Advisors Capital Management LLC raised its stake in shares of General Electric by 7.6% in the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock valued at $711,000 after purchasing an additional 3,714 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.
About General Electric
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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