General Electric Co. (GE) PT Set at $32.00 by Barclays PLC
General Electric Co. (NYSE:GE) received a $32.00 target price from research analysts at Barclays PLC in a note issued to investors on Monday. The brokerage currently has a a “buy” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 10.76% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. set a $28.00 price objective on General Electric and gave the company a “sell” rating in a research report on Friday, September 23rd. Goldman Sachs Group Inc. set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Monday, June 27th. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $30.93 price objective for the company in a research report on Thursday, July 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Electric in a research report on Monday, June 20th. Finally, William Blair reiterated an “outperform” rating and issued a $38.00 target price on shares of General Electric in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $32.70.
Shares of General Electric (NYSE:GE) remained flat at $28.89 during midday trading on Monday. The stock had a trading volume of 4,912,443 shares. General Electric has a 1-year low of $27.10 and a 1-year high of $33.00. The company’s 50 day moving average is $29.97 and its 200 day moving average is $30.69. The company has a market capitalization of $258.89 billion, a price-to-earnings ratio of 24.42 and a beta of 1.15.
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General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. The business earned $33.49 million during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that General Electric will post $1.50 earnings per share for the current fiscal 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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. 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 bought 50,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of 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 SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Rockefeller Financial Services Inc. raised its position 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 raised its position 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. raised its position 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. Country Club Trust Company n.a. raised its position in General Electric by 1.8% in the second quarter. Country Club Trust Company n.a. now owns 579,094 shares of the company’s stock valued at $18,230,000 after buying an additional 10,148 shares during the period. Finally, GWM Advisors LLC raised its position 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. 55.81% of the stock is owned by institutional investors.
About General Electric
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