General Electric (NYSE:GE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of General Electric (NYSE:GE) have earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $191.36.

Several equities research analysts have recently weighed in on GE shares. StockNews.com downgraded shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 target price on the stock. Jefferies Financial Group boosted their target price on General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada increased their price target on General Electric from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

General Electric Stock Up 0.6 %

Shares of NYSE GE opened at $189.79 on Wednesday. The business has a 50-day moving average price of $169.81 and a 200 day moving average price of $170.28. The stock has a market cap of $207.75 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $84.42 and a 52-week high of $189.80.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that General Electric will post 4.2 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Institutional Trading of General Electric

Large investors have recently modified their holdings of the business. Macroview Investment Management LLC raised its position in shares of General Electric by 37.9% in the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD lifted its stake in shares of General Electric by 1.4% during the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after purchasing an additional 61 shares during the period. New England Research & Management Inc. boosted its holdings in shares of General Electric by 2.2% during the second quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock worth $463,000 after purchasing an additional 63 shares during the last quarter. Certified Advisory Corp grew its position in shares of General Electric by 1.0% in the second quarter. Certified Advisory Corp now owns 6,572 shares of the conglomerate’s stock valued at $1,045,000 after purchasing an additional 63 shares during the period. Finally, Argent Trust Co increased its stake in General Electric by 0.6% in the second quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after purchasing an additional 64 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.