Trade Report: The General Electric Co. (GE) Given a $31.00 Price Target by Stifel Nicolaus Analysts

The General Electric Co. (GE) Given a $31.00 Price Target by Stifel Nicolaus Analysts

Stifel Nicolaus set a $31.00 price objective on General Electric Co. (NYSE:GE) in a research report report published on Wednesday. The firm currently has a a buy rating on the stock.

Several other analysts have also recently weighed in on GE. Credit Suisse Group AG restated a buy rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. restated a market perform rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr cut shares of General Electric from a buy rating to a hold rating and set a $30.93 price objective on the stock. in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reaffirmed a sell rating on shares of General Electric in a report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of General Electric from a sell rating to a hold rating in a report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has a consensus rating of Buy and an average target price of $32.79.

General Electric (NYSE:GE) traded down 0.467% during trading on Wednesday, reaching $28.765. 9,715,892 shares of the company traded hands. The firm’s 50 day moving average price is $30.11 and its 200 day moving average price is $30.72. The firm has a market capitalization of $257.77 billion, a price-to-earnings ratio of 24.315 and a beta of 1.15. General Electric has a 12-month low of $27.10 and a 12-month high of $33.00.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The firm had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Equities research analysts expect that General Electric will post $1.50 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s payout ratio is 77.97%.

In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catamount Wealth Management boosted its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the last quarter. Cable Hill Partners LLC boosted its position in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co. LLC boosted its position in General Electric by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the last quarter. James Investment Research Inc. boosted its position in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares during the last quarter. Finally, Balentine LLC boosted its position in General Electric by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock valued at $187,000 after buying an additional 2,277 shares during the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.

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