Q3 2017 Earnings Estimate for General Electric Company Issued By Oppenheimer Holdings (NYSE:GE)

General Electric Company (NYSE:GE) – Equities researchers at Oppenheimer Holdings cut their Q3 2017 EPS estimates for shares of General Electric in a report released on Monday. Oppenheimer Holdings analyst C. Glynn now forecasts that the conglomerate will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.54. Oppenheimer Holdings has a “Market Perform” rating on the stock.

Several other brokerages also recently commented on GE. Stifel Nicolaus boosted their price objective on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research note on Thursday, May 11th. J P Morgan Chase & Co reissued an “underweight” rating on shares of General Electric in a research note on Monday, April 3rd. Finally, Royal Bank Of Canada lowered their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.75.

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General Electric (GE) opened at 26.89 on Wednesday. The stock has a market cap of $233.51 billion, a PE ratio of 27.38 and a beta of 1.22. General Electric has a 12 month low of $25.85 and a 12 month high of $33.00. The stock’s 50 day moving average price is $27.51 and its 200-day moving average price is $29.18.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $27.66 billion during the quarter, compared to the consensus estimate of $26.37 billion. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS.

Several large investors have recently added to or reduced their stakes in GE. BerganKDV Wealth Management LLC increased its stake in shares of General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after buying an additional 36 shares during the period. Insight 2811 Inc. boosted its position in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. boosted its position in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares in the last quarter. Smith Shellnut Wilson LLC ADV boosted its position in shares of General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after buying an additional 160 shares in the last quarter. Finally, Huntington Steele LLC boosted its position in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.

In other General Electric news, Director William G. Beattie purchased 4,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $27.70 per share, with a total value of $110,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey R. Immelt purchased 100,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 140,000 shares of company stock valued at $3,964,600. 0.36% of the stock is owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.57%. General Electric’s payout ratio is 97.96%.

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