General Electric Co. (GE) Receives Market Perform Rating from Sanford C. Bernstein
General Electric Co. (NYSE:GE)‘s stock had its “market perform” rating restated by Sanford C. Bernstein in a report issued on Tuesday. They currently have a $34.00 price objective on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 16.92% from the company’s current price.
A number of other research firms have also commented on GE. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $30.93 price objective for the company in a research note on Thursday, July 7th. Cowen and Company started coverage on shares of General Electric in a research note on Tuesday, June 7th. They set a “market perform” rating and a $29.00 price objective for the company. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $34.00 price objective on shares of General Electric in a research note on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a research note on Wednesday, June 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $34.00 price target on shares of General Electric in a research report on Friday, April 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.81.
General Electric (NYSE:GE) traded down 0.65% during midday trading on Tuesday, reaching $29.08. 37,840,132 shares of the company’s stock traded hands. The company’s 50-day moving average price is $30.31 and its 200 day moving average price is $30.77. General Electric has a 52 week low of $27.10 and a 52 week high of $33.00. The stock has a market capitalization of $260.59 billion, a price-to-earnings ratio of 24.58 and a beta of 1.15.
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General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities research analysts expect that General Electric will post $1.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a $0.23 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.16%. General Electric’s dividend payout ratio (DPR) is currently 77.97%.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Catamount Wealth Management boosted its position in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the last quarter. Cable Hill Partners LLC boosted its position in shares of General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock worth $159,000 after buying an additional 1,868 shares during the last quarter. James Investment Research Inc. boosted its position in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the last quarter. Finally, Balentine LLC boosted its position in shares of General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock worth $187,000 after buying an additional 2,277 shares during the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.
About General Electric
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