General Electric (NYSE:GE) – Equities researchers at Oppenheimer reduced their Q1 2018 EPS estimates for General Electric in a research report issued on Thursday. Oppenheimer analyst C. Glynn now expects that the conglomerate will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.18. Oppenheimer currently has a “Underperform” rating on the stock. Oppenheimer also issued estimates for General Electric’s Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.24 EPS, FY2018 earnings at $0.98 EPS and FY2019 earnings at $0.98 EPS.
Several other equities analysts also recently weighed in on the company. Goldman Sachs Group set a $22.00 price target on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. JPMorgan Chase & Co. set a $17.00 price target on General Electric and gave the company a “sell” rating in a report on Wednesday, November 15th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price target on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Finally, Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price target for the company in a report on Monday, October 30th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.25.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. General Electric’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS.
A number of large investors have recently made changes to their positions in the business. Cambridge Advisors Inc. boosted its position in General Electric by 11.1% in the fourth quarter. Cambridge Advisors Inc. now owns 37,009 shares of the conglomerate’s stock worth $646,000 after purchasing an additional 3,686 shares during the last quarter. Enterprise Financial Services Corp boosted its position in General Electric by 7.2% in the fourth quarter. Enterprise Financial Services Corp now owns 72,582 shares of the conglomerate’s stock worth $1,267,000 after purchasing an additional 4,868 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in General Electric by 8.6% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 279,858 shares of the conglomerate’s stock worth $4,884,000 after purchasing an additional 22,104 shares during the last quarter. Eagle Ridge Investment Management boosted its position in General Electric by 21.6% in the fourth quarter. Eagle Ridge Investment Management now owns 37,906 shares of the conglomerate’s stock worth $661,000 after purchasing an additional 6,744 shares during the last quarter. Finally, Proffitt & Goodson Inc. boosted its position in General Electric by 69.5% in the fourth quarter. Proffitt & Goodson Inc. now owns 73,774 shares of the conglomerate’s stock worth $1,287,000 after purchasing an additional 30,245 shares during the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.
In other General Electric 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 cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock valued at $2,183,220 over the last quarter. 0.36% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, December 27th were issued a $0.12 dividend. The ex-dividend date was Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.98%. General Electric’s payout ratio is 44.44%.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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