GE has been the subject of a number of other research reports. JPMorgan Chase & Co. set a $22.00 price target on General Electric and gave the company a sell rating in a research report on Tuesday, September 19th. Citigroup set a $28.00 price objective on General Electric and gave the stock a buy rating in a research report on Monday, October 23rd. UBS Group cut General Electric from a buy rating to a neutral rating and dropped their price objective for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Vetr cut General Electric from a strong-buy rating to a buy rating and set a $21.08 price objective for the company. in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada cut General Electric from an outperform rating to a sector perform rating and dropped their price objective for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. General Electric has a consensus rating of Hold and an average price target of $22.94.
Shares of General Electric (NYSE GE) traded down $0.86 during mid-day trading on Tuesday, hitting $17.35. The stock had a trading volume of 99,863,775 shares, compared to its average volume of 72,680,000. General Electric has a twelve month low of $17.25 and a twelve month high of $31.45. The stock has a market capitalization of $150,420.00, a PE ratio of 20.17, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares in the company, valued at $100,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peak Financial Management Inc. lifted its position in General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after acquiring an additional 25 shares in the last quarter. Puplava Financial Services Inc. lifted its position in General Electric by 0.4% during the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 41 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its position in General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after acquiring an additional 67 shares in the last quarter. NorthRock Partners LLC lifted its position in General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 80 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its position in General Electric by 1.4% during the 2nd quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after acquiring an additional 138 shares in the last quarter. 55.64% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company Profile
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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