General Electric (NYSE:GE) Given Average Recommendation of “Moderate Buy” by Brokerages

General Electric (NYSE:GE) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $201.47.

Several analysts recently commented on the company. Sanford C. Bernstein boosted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada reduced their target price on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a report on Thursday. Citigroup upped their price objective on shares of General Electric from $198.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Insider Activity at General Electric

In other news, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Russell Stokes sold 15,550 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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. This represents a 9.46 % decrease in their position. 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 have recently bought and sold shares of the stock. Toth Financial Advisory Corp acquired a new position in shares of General Electric during the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in General Electric during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of General Electric during the 3rd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $28,000. Finally, Studio Investment Management LLC lifted its position in shares of General Electric by 97.5% in the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Up 1.1 %

Shares of GE stock opened at $168.59 on Friday. The firm has a fifty day moving average of $174.59 and a 200-day moving average of $173.00. The stock has a market cap of $182.46 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 1.66 and a beta of 1.17. General Electric has a 52-week low of $98.92 and a 52-week high of $194.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

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

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio (DPR) is 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.