General Electric Co. (GE) Given a $32.00 Price Target at Barclays PLC
General Electric Co. (NYSE:GE) has been assigned a $32.00 price target by equities researchers at Barclays PLC in a research report issued to clients and investors on Monday. The firm presently has a a “buy” rating on the stock. Barclays PLC’s price objective suggests a potential upside of 10.76% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of General Electric in a research note on Monday, July 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $34.00 price target on shares of General Electric in a research note on Monday, June 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 assigned a strong buy rating to the company. General Electric presently has an average rating of “Buy” and an average price target of $32.70.
General Electric (NYSE:GE) traded down 0.28% during trading on Monday, hitting $28.81. The company’s stock had a trading volume of 4,235,093 shares. The firm has a market cap of $258.17 billion, a P/E ratio of 24.35 and a beta of 1.15. The firm has a 50 day moving average of $29.97 and a 200 day moving average of $30.69. 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 announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Equities research analysts predict that General Electric will post $1.50 earnings per share for the current 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 paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average price 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Catamount Wealth Management raised its stake in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares in the last quarter. Cable Hill Partners LLC raised its stake in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares in the last quarter. Global X Management Co. LLC raised its stake 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 valued at $159,000 after buying an additional 1,868 shares in the last quarter. New Harbor Financial Group LLC raised its stake in General Electric by 46.0% in the third quarter. New Harbor Financial Group LLC now owns 5,828 shares of the company’s stock valued at $172,000 after buying an additional 1,837 shares in the last quarter. Finally, James Investment Research Inc. raised its stake in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.
General Electric Company Profile
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