General Electric (NYSE:GE) – Stock analysts at Oppenheimer reduced their FY2019 earnings per share estimates for General Electric in a report issued on Wednesday. Oppenheimer analyst C. Glynn now expects that the conglomerate will post earnings of $1.05 per share for the year, down from their prior estimate of $1.40. Oppenheimer has a “Underperform” rating on the stock.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis.

GE has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Morningstar reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Finally, Citigroup set a $28.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $23.25.

General Electric (GE) traded down $0.26 on Monday, hitting $18.76. The stock had a trading volume of 87,032,593 shares, compared to its average volume of 68,100,000. General Electric has a 52 week low of $17.25 and a 52 week high of $31.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market cap of $162,690.00, a P/E ratio of 21.81, a PEG ratio of 2.11 and a beta of 1.07.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its holdings in shares of General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC grew its holdings in shares of General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in shares of General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after purchasing an additional 9,755 shares in the last quarter. Destination Wealth Management grew its holdings in shares of General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Finally, Rockland Trust Co. grew its holdings in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after purchasing an additional 16,309 shares in the last quarter. 55.64% of the stock is currently owned by institutional investors.

In other General Electric news, Chairman John Leonard Flannery purchased 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock worth $2,183,220 over the last three months. 0.36% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.

WARNING: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/15/fy2019-eps-estimates-for-general-electric-ge-lowered-by-analyst.html.

About General Electric

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.