General Electric Company (GE) Receives Average Rating of “Hold” from Brokerages
Shares of General Electric Company (NYSE:GE) have received a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $24.21.
GE has been the topic of a number of recent research reports. Argus dropped their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, September 18th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 price target on shares of General Electric in a research report on Friday, September 15th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target on the stock. in a research report on Wednesday, September 13th. UBS AG reissued a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus dropped their price target on shares of General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th.
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General Electric (NYSE:GE) opened at $17.98 on Tuesday. General Electric has a 12 month low of $17.46 and a 12 month high of $32.38. The firm has a market cap of $156,310.00, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 5.34%. General Electric’s payout ratio is 111.63%.
In other news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock valued at $2,183,220 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
Large investors have recently modified their holdings of the stock. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter valued at approximately $106,000. MPS Loria Financial Planners LLC purchased a new position in General Electric during the second quarter valued at approximately $113,000. Ffcm LLC purchased a new position in General Electric during the second quarter valued at approximately $114,000. PHH Investments Ltd. grew its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Corbenic Partners LLC grew its stake in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares in the last quarter. 54.75% of the stock is owned by institutional investors.
About General Electric
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