General Electric Co. (GE) Given a $31.00 Price Target at Stifel Nicolaus
General Electric Co. (NYSE:GE) has been given a $31.00 price objective by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday. The firm presently has a a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.27% from the company’s current price.
A number of other equities research analysts have also issued reports on GE. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price on the stock. in a research report on Tuesday, June 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Electric in a research report on Monday, June 20th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a research report 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 research report on Monday, June 27th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $34.00 price target on shares of General Electric in a research report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. General Electric has a consensus rating of “Buy” and a consensus price target of $32.79.
Shares of General Electric (NYSE:GE) traded down 0.07% on Wednesday, reaching $28.90. The company had a trading volume of 22,754,703 shares. The firm has a market capitalization of $258.98 billion, a price-to-earnings ratio of 24.43 and a beta of 1.15. General Electric has a 52-week low of $27.10 and a 52-week high of $33.00. The company’s 50-day moving average price is $30.18 and its 200-day moving average price is $30.73.
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General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter last year, the firm earned $0.31 EPS. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts predict that General Electric will post $1.50 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. General Electric’s payout ratio is 77.97%.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.
Several institutional investors have recently bought and sold shares of GE. Catamount Wealth Management boosted its position in 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 period. Cable Hill Partners LLC boosted its position in 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. Global X Management Co. LLC boosted its position in 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 period. James Investment Research Inc. boosted its position in 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 period. Finally, Balentine LLC boosted its position in 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 period. 55.81% of the stock is owned by institutional investors.
General Electric Company Profile
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