General Electric (NYSE:GE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of General Electric (NYSE:GEGet Rating) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $116.36.

GE has been the topic of several research analyst reports. Morgan Stanley cut their target price on General Electric from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 31st. Barclays cut their target price on General Electric from $100.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 24th. Royal Bank of Canada lifted their price target on General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, March 11th. Credit Suisse Group cut their price target on General Electric from $113.00 to $102.00 in a research report on Wednesday, April 27th. Finally, Bank of America cut their price target on General Electric from $132.00 to $120.00 in a research report on Wednesday, April 27th.

Shares of GE opened at $64.54 on Thursday. The stock has a 50-day simple moving average of $77.05 and a 200-day simple moving average of $88.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 1.19. The stock has a market capitalization of $71.04 billion, a PE ratio of -14.09, a PEG ratio of 3.34 and a beta of 1.01. General Electric has a 1 year low of $64.17 and a 1 year high of $116.17.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The business had revenue of $17.04 billion during the quarter, compared to analysts’ expectations of $16.92 billion. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Analysts predict that General Electric will post 2.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Shareholders of record on Tuesday, June 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. General Electric’s payout ratio is -6.99%.

In related news, Director Paula Rosput Reynolds purchased 1,200 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of $77.65 per share, with a total value of $93,180.00. Following the completion of the acquisition, the director now directly owns 5,563 shares in the company, valued at approximately $431,966.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Electric Co General sold 72,025,826 shares of the business’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the transaction, the insider now directly owns 3,931,363 shares of the company’s stock, valued at $135,435,455.35. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 69,801 shares of company stock worth $5,207,705. 0.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in GE. Missouri Trust & Investment Co acquired a new stake in General Electric during the fourth quarter worth about $27,000. Benjamin Edwards Inc. increased its stake in General Electric by 325.0% during the fourth quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Tcwp LLC purchased a new stake in shares of General Electric in the first quarter worth about $28,000. Covestor Ltd purchased a new stake in shares of General Electric in the fourth quarter worth about $31,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its position in shares of General Electric by 808.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

General Electric Company Profile (Get Rating)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

Further Reading

Analyst Recommendations for General Electric (NYSE:GE)

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