Trade Report: Today, RBC Capital Markets Analysts Give General Electric Co. (GE) a $36.00 Price Target

Today, RBC Capital Markets Analysts Give General Electric Co. (GE) a $36.00 Price Target

RBC Capital Markets set a $36.00 price target on General Electric Co. (NYSE:GE) in a research report released on Tuesday morning. The firm currently has a a buy rating on the stock.

Several other research firms have also issued reports on GE. Vetr upgraded General Electric from a sell rating to a hold rating and set a $30.93 target price on the stock in a report on Thursday, July 7th. Credit Suisse Group AG reissued an outperform rating and set a $34.00 price target on shares of General Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. reissued an underweight rating and set a $26.00 price target on shares of General Electric in a research report on Thursday, August 11th. Bank of America Corp. reissued a buy rating and set a $37.00 price target on shares of General Electric in a research report on Thursday, October 6th. Finally, Zacks Investment Research raised General Electric from a sell rating to a hold rating in a research report on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $32.79.

Shares of General Electric (NYSE:GE) opened at 28.89 on Tuesday. The firm has a 50 day moving average price of $29.97 and a 200-day moving average price of $30.69. General Electric has a 12 month low of $27.10 and a 12 month high of $33.00. The company has a market cap of $258.89 billion, a P/E ratio of 24.42 and a beta of 1.15.

General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. General Electric’s revenue was up 14.6% on a year-over-year basis. Analysts anticipate that General Electric will post $1.50 earnings per share for the current fiscal year.

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

In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Cable Hill Partners LLC increased its stake in General Electric by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock worth $141,000 after buying an additional 19 shares during the last quarter. Horizon Investments LLC increased its stake in General Electric by 0.5% in the second quarter. Horizon Investments LLC now owns 7,832 shares of the company’s stock worth $247,000 after buying an additional 36 shares during the last quarter. Financial Management Professionals Inc. increased its stake in General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock worth $274,000 after buying an additional 46 shares during the last quarter. Barry Investment Advisors LLC increased its stake in General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its stake in General Electric by 0.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 13,809 shares of the company’s stock worth $410,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.

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