General Electric’s (GE) Outperform Rating Reiterated at Credit Suisse Group AG
General Electric Company (NYSE:GE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group AG in a research note issued on Thursday. They presently have a $30.00 target price on the conglomerate’s stock, down from their prior target price of $33.00. Credit Suisse Group AG’s target price suggests a potential upside of 22.25% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price on the stock in a research note on Wednesday, June 7th. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Citigroup Inc. restated a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. UBS AG restated a “buy” rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $31.00 price objective on shares of General Electric in a research report on Friday, September 15th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and a consensus price target of $28.39.
General Electric (NYSE GE) traded down 1.569% during midday trading on Thursday, reaching $24.155. 16,118,717 shares of the company’s stock traded hands. The firm’s 50-day moving average is $24.45 and its 200 day moving average is $27.04. General Electric has a 52-week low of $23.58 and a 52-week high of $32.38. The firm has a market cap of $209.13 billion, a PE ratio of 29.421 and a beta of 1.19.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts expect that General Electric will post $1.55 earnings per share for the current fiscal year.
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In other news, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of General Electric stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last three months, insiders bought 233,253 shares of company stock valued at $5,860,264. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bonness Enterprises Inc. increased its stake in shares of General Electric by 14.8% in the third quarter. Bonness Enterprises Inc. now owns 188,778 shares of the conglomerate’s stock worth $4,565,000 after purchasing an additional 24,300 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of General Electric in the third quarter worth $4,304,000. Pensionfund DSM Netherlands purchased a new stake in shares of General Electric in the third quarter worth $7,786,000. McQueen Ball & Associates Inc. increased its stake in shares of General Electric by 4.5% in the third quarter. McQueen Ball & Associates Inc. now owns 90,479 shares of the conglomerate’s stock worth $2,188,000 after purchasing an additional 3,855 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its stake in shares of General Electric by 54.0% in the third quarter. Eqis Capital Management Inc. now owns 35,177 shares of the conglomerate’s stock worth $851,000 after purchasing an additional 12,329 shares in the last quarter. 54.71% of the stock is owned by hedge funds and other institutional investors.
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