General Electric Co. (GE) Price Target Lowered to $35.00 at Citigroup Inc.
General Electric Co. (NYSE:GE) had its price objective lowered by investment analysts at Citigroup Inc. from $36.00 to $35.00 in a research report issued on Monday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 20.36% from the company’s previous close.
Several other equities research analysts have also recently commented on GE. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $31.34 target price for the company in a research note on Monday, June 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Electric in a research note on Monday, June 20th. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Goldman Sachs Group Inc. set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a report on Monday, June 27th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $34.00 price target on shares of General Electric in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.76.
General Electric (NYSE:GE) traded down 0.602% on Monday, hitting $28.905. The company had a trading volume of 19,538,392 shares. The stock has a market capitalization of $259.02 billion, a PE ratio of 24.434 and a beta of 1.15. General Electric has a one year low of $27.10 and a one year high of $33.00. The stock has a 50 day moving average of $30.31 and a 200-day moving average of $30.77.
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General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. Equities analysts anticipate that General Electric will post $1.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction dated Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in General Electric by 16.4% in the third quarter. Advisory Services Network LLC now owns 118,597 shares of the company’s stock valued at $3,513,000 after buying an additional 16,710 shares during the last quarter. Trust Co. of Oklahoma boosted its position in General Electric by 7.0% in the third quarter. Trust Co. of Oklahoma now owns 133,873 shares of the company’s stock valued at $3,965,000 after buying an additional 8,795 shares during the last quarter. Nadler Financial Group Inc. boosted its position in General Electric by 3.4% in the third quarter. Nadler Financial Group Inc. now owns 35,413 shares of the company’s stock valued at $1,049,000 after buying an additional 1,162 shares during the last quarter. Central Bank & Trust Co. boosted its position in General Electric by 4.6% in the third quarter. Central Bank & Trust Co. now owns 25,458 shares of the company’s stock valued at $753,000 after buying an additional 1,128 shares during the last quarter. Finally, Stokes & Hubbell Capital Management LLC boosted its position in General Electric by 3.6% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 106,462 shares of the company’s stock valued at $3,153,000 after buying an additional 3,674 shares during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
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