General Electric (NYSE:GE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

General Electric (NYSE:GE) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $200.93.

Several analysts have issued reports on the company. Melius Research boosted their target price on General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Bank of America boosted their price objective on General Electric from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price target on shares of General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the completion of the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell Stokes sold 15,550 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of General Electric

Several hedge funds and other institutional investors have recently bought and sold shares of GE. State Street Corp grew its stake in shares of General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Geode Capital Management LLC lifted its holdings in General Electric by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 22,587,961 shares of the conglomerate’s stock worth $4,244,676,000 after buying an additional 156,272 shares during the period. Newport Trust Company LLC bought a new stake in shares of General Electric in the 2nd quarter worth approximately $2,613,332,000. Legal & General Group Plc increased its stake in shares of General Electric by 5.8% during the second quarter. Legal & General Group Plc now owns 8,405,731 shares of the conglomerate’s stock valued at $1,336,257,000 after buying an additional 459,201 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of General Electric by 91.8% during the third quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate’s stock valued at $1,465,598,000 after acquiring an additional 3,719,894 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.5 %

Shares of General Electric stock opened at $175.58 on Monday. The stock has a fifty day moving average price of $182.10 and a 200-day moving average price of $172.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market cap of $190.03 billion, a PE ratio of 30.86, a P/E/G ratio of 1.80 and a beta of 1.17. General Electric has a 1 year low of $94.54 and a 1 year high of $194.80.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 4.24 EPS for the current year.

General Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, September 26th. General Electric’s dividend payout ratio is currently 19.68%.

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.