General Electric Co. (GE) PT Set at $36.00 by RBC Capital Markets
General Electric Co. (NYSE:GE) has been given a $36.00 target price by investment analysts at RBC Capital Markets in a note issued to investors on Tuesday. The firm presently has a a “buy” rating on the stock. RBC Capital Markets’ price target would suggest a potential upside of 24.74% from the company’s current price.
A number of other research analysts have also weighed in on the company. Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $32.35 price objective on the stock in a report on Monday. Citigroup Inc. reduced their price target on General Electric from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Monday. Bank of America Corp. reiterated a “buy” rating and set a $37.00 price target on shares of General Electric in a report on Thursday, October 6th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a report on Thursday, October 6th. Finally, Morgan Stanley reduced their price target on General Electric from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.93.
Shares of General Electric (NYSE:GE) traded down 0.35% on Tuesday, reaching $28.76. 18,843,375 shares of the company’s stock traded hands. The firm has a market capitalization of $257.73 billion, a P/E ratio of 24.31 and a beta of 1.15. The firm’s 50 day moving average is $30.25 and its 200 day moving average is $30.75. 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 announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Analysts expect that General Electric will post $1.50 earnings per share for the current fiscal 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.19%. The ex-dividend date 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 the business’s stock in a transaction dated Tuesday, July 26th. The stock was acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GE. Rockefeller Financial Services Inc. boosted its stake in General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock valued at $10,019,000 after buying an additional 20,893 shares during the period. Appleton Partners Inc. MA boosted its stake in General Electric by 3.1% in the second quarter. Appleton Partners Inc. MA now owns 265,352 shares of the company’s stock valued at $8,353,000 after buying an additional 7,908 shares during the period. Charter Trust Co. boosted its stake in General Electric by 1.5% in the second quarter. Charter Trust Co. now owns 1,235,479 shares of the company’s stock valued at $38,893,000 after buying an additional 18,811 shares during the period. GWM Advisors LLC boosted its stake in General Electric by 506.3% in the second quarter. GWM Advisors LLC now owns 50,829 shares of the company’s stock valued at $1,595,000 after buying an additional 42,445 shares during the period. Finally, Abner Herrman & Brock LLC boosted its stake in General Electric by 9.0% in the second quarter. Abner Herrman & Brock LLC now owns 354,721 shares of the company’s stock valued at $11,426,000 after buying an additional 29,308 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
About General Electric
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