General Electric Co. (GE) PT Set at $36.00 by RBC Capital Markets
General Electric Co. (NYSE:GE) has been assigned a $36.00 target price by research analysts at RBC Capital Markets in a research report issued to clients and investors on Tuesday. The firm currently has a a “buy” rating on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 24.48% from the company’s current price.
GE has been the topic of several other research reports. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $31.67 price objective on the stock in a report on Thursday, July 21st. TheStreet upgraded General Electric from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $32.93.
General Electric (NYSE:GE) traded up 0.21% during mid-day trading on Tuesday, hitting $28.92. 30,942,235 shares of the stock were exchanged. The stock has a market cap of $259.16 billion, a price-to-earnings ratio of 24.45 and a beta of 1.15. The company has a 50 day moving average price of $30.18 and a 200 day moving average price of $30.73. General Electric has a 52 week low of $27.10 and a 52 week high of $33.00.
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General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The firm had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. Analysts expect that General Electric will post $1.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s 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 acquisition, 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 SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cable Hill Partners LLC raised 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 period. Horizon Investments LLC raised its position in shares of General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock worth $247,000 after buying an additional 36 shares during the period. Financial Management Professionals Inc. raised its position in shares of General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock worth $274,000 after buying an additional 46 shares during the period. Barry Investment Advisors LLC raised its position in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Finally, Allegis Investment Advisors LLC raised its position in shares of General Electric by 0.5% in the second quarter. Allegis Investment Advisors LLC now owns 11,430 shares of the company’s stock worth $349,000 after buying an additional 59 shares during the period. Institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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