General Electric Company (NYSE:GE)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Saturday. They currently have a $33.00 price target on the conglomerate’s stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 27.36% from the stock’s current price.
A number of other equities research analysts have also commented on GE. J P Morgan Chase & Co restated a “sell” rating and set a $27.00 price target on shares of General Electric in a research report on Tuesday, March 28th. Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $33.56 price target on the stock in a research report on Tuesday, March 28th. William Blair restated a “buy” rating on shares of General Electric in a research report on Saturday, April 1st. Deutsche Bank AG restated a “neutral” rating and set a $28.00 price target on shares of General Electric in a research report on Wednesday, April 5th. Finally, Cowen and Company restated a “hold” rating and set a $30.00 price target on shares of General Electric in a research report on Thursday, April 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $31.08.
Shares of General Electric (NYSE:GE) traded down 2.92% during mid-day trading on Friday, reaching $25.91. The company’s stock had a trading volume of 90,649,890 shares. The firm has a market capitalization of $225.00 billion, a P/E ratio of 26.38 and a beta of 1.22. General Electric has a 12 month low of $25.26 and a 12 month high of $32.38. The company has a 50 day moving average of $27.48 and a 200-day moving average of $29.14. General Electric also was the target of unusually large options trading on Thursday. Stock traders bought 35,785 put options on the company. This represents an increase of 143% compared to the typical daily volume of 14,713 put options.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 16.59% and a net margin of 7.48%. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. Equities research analysts forecast that General Electric will post $1.62 EPS for the current year.
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In other General Electric news, Director William G. Beattie acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $27.70 per share, with a total value of $110,800.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the purchase, the chairman now directly owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. In the last three months, insiders bought 140,000 shares of company stock worth $3,964,600. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric during the first quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the first quarter valued at approximately $114,000. PHH Investments Ltd. increased its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. Empirical Finance LLC acquired a new stake in shares of General Electric during the fourth quarter valued at approximately $140,000. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at approximately $177,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
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