Shares of General Electric (NYSE:GE) have received a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.62.
Several equities research analysts have recently commented on the stock. ValuEngine cut shares of General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. UBS Group set a $16.00 price target on shares of General Electric and gave the stock a “hold” rating in a research report on Friday, June 1st. Stifel Nicolaus reiterated a “neutral” rating and set a $15.00 price target on shares of General Electric in a research report on Friday, May 18th. JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 price target on shares of General Electric in a research report on Tuesday, May 22nd. Finally, Goldman Sachs Group set a $14.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Monday, April 23rd.
Shares of NYSE:GE traded down $0.25 during trading on Friday, hitting $13.64. 60,668,122 shares of the company’s stock were exchanged, compared to its average volume of 80,175,945. General Electric has a 1-year low of $12.73 and a 1-year high of $29.01. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48. The stock has a market cap of $121.38 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 2.68 and a beta of 1.01.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, June 18th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, June 15th. General Electric’s payout ratio is currently 45.71%.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $58,245,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Gould Asset Management LLC CA lifted its position in shares of General Electric by 20.3% in the third quarter. Gould Asset Management LLC CA now owns 15,329 shares of the conglomerate’s stock worth $371,000 after purchasing an additional 2,588 shares in the last quarter. IBM Retirement Fund lifted its position in shares of General Electric by 1.3% in the third quarter. IBM Retirement Fund now owns 215,551 shares of the conglomerate’s stock worth $5,736,000 after purchasing an additional 2,719 shares in the last quarter. First United Bank Trust lifted its position in shares of General Electric by 31.2% in the fourth quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock worth $202,000 after purchasing an additional 2,760 shares in the last quarter. Graybill Bartz & Assoc Ltd. lifted its position in shares of General Electric by 2.4% in the fourth quarter. Graybill Bartz & Assoc Ltd. now owns 125,984 shares of the conglomerate’s stock worth $2,198,000 after purchasing an additional 2,925 shares in the last quarter. Finally, Loudon Investment Management LLC lifted its position in shares of General Electric by 2.6% in the third quarter. Loudon Investment Management LLC now owns 124,244 shares of the conglomerate’s stock worth $3,004,000 after purchasing an additional 3,156 shares in the last quarter. 54.00% of the stock is currently owned by hedge funds and other institutional investors.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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