Sanford C. Bernstein Reiterates Market Perform Rating for General Electric Co. (GE)
General Electric Co. (NYSE:GE)‘s stock had its “market perform” rating reiterated by stock analysts at Sanford C. Bernstein in a report released on Wednesday. They presently have a $34.00 price target on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 17.65% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Stifel Nicolaus set a $31.00 target price on shares of General Electric and gave the company a “buy” rating in a research report on Wednesday. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price for the company. in a research report on Tuesday, June 14th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price on shares of General Electric in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $32.79.
General Electric (NYSE:GE) traded down 0.07% during mid-day trading on Wednesday, reaching $28.90. The company had a trading volume of 22,754,703 shares. The stock has a market cap of $258.98 billion, a PE ratio of 24.43 and a beta of 1.15. The firm’s 50-day moving average price is $30.11 and its 200-day moving average price is $30.72. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00.
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General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. 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 posted $0.31 EPS. Equities research analysts forecast that General Electric will post $1.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s dividend payout ratio (DPR) is 77.97%.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, with a total value 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 approximately $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Catamount Wealth Management raised its stake 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 in the last quarter. Cable Hill Partners LLC raised its stake 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 in the last quarter. Global X Management Co. LLC raised its stake 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 in the last quarter. James Investment Research Inc. raised its stake 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 in the last quarter. Finally, Balentine LLC raised its stake 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 in the last quarter. 55.81% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
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