J P Morgan Chase & Co set a $22.00 price objective on General Electric Company (NYSE:GE) in a research note published on Tuesday morning. The brokerage currently has a sell rating on the conglomerate’s stock.
GE has been the topic of a number of other reports. Vetr lowered shares of General Electric from a buy rating to a sell rating and set a $23.72 price objective on the stock. in a research report on Tuesday. Morgan Stanley reiterated an equal weight rating and issued a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. CIBC reiterated a market perform rating on shares of General Electric in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of General Electric in a research report on Wednesday, June 14th. Finally, Cowen and Company reiterated a hold rating and issued a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. General Electric has an average rating of Hold and an average target price of $28.98.
Shares of General Electric (NYSE GE) opened at 24.20 on Tuesday. The stock has a market capitalization of $209.52 billion, a P/E ratio of 29.48 and a beta of 1.22. The stock has a 50 day moving average of $24.74 and a 200 day moving average of $27.46. General Electric has a 12-month low of $23.58 and a 12-month high of $32.38. General Electric also was the target of unusually large options trading activity on Monday. Investors purchased 40,129 call options on the company. This represents an increase of 145% compared to the typical daily volume of 16,397 call options.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 6.45% and a return on equity of 14.59%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Equities research analysts anticipate that General Electric will post $1.56 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
In other news, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief purchased 1,845 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. Insiders have bought a total of 233,253 shares of company stock valued at $5,860,264 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GE. Sabal Trust CO raised its stake in General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after purchasing an additional 55,049 shares during the last quarter. Smithbridge Asset Management Inc. DE raised its stake in General Electric by 47.2% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after purchasing an additional 10,025 shares during the last quarter. Windsor Financial Group LLC raised its stake in General Electric by 497.6% in the 1st quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after purchasing an additional 130,275 shares during the last quarter. Rothschild Investment Corp IL raised its stake in General Electric by 2.4% in the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after purchasing an additional 10,906 shares during the last quarter. Finally, Independence Trust CO raised its stake in General Electric by 12.3% in the 1st quarter. Independence Trust CO now owns 90,467 shares of the conglomerate’s stock valued at $2,695,000 after purchasing an additional 9,890 shares during the last quarter. 54.71% of the stock is owned by institutional investors and hedge funds.
About General Electric
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