Brokerages Set General Electric (GE) Target Price at $13.86
General Electric (NYSE:GE) has received a consensus recommendation of “Hold” from the twenty-seven analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.86.
A number of equities analysts have weighed in on the stock. Citigroup decreased their price target on shares of General Electric from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 9th. ValuEngine upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, October 6th. Morningstar set a $16.10 target price on shares of General Electric and gave the company a “buy” rating in a report on Monday, October 8th. Barclays upgraded shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. set a $11.00 target price on shares of General Electric and gave the company a “sell” rating in a report on Monday, August 27th.
Shares of GE traded down $0.34 during mid-day trading on Friday, reaching $7.01. The company had a trading volume of 114,380,000 shares, compared to its average volume of 134,990,848. The firm has a market cap of $63.82 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. General Electric has a fifty-two week low of $6.99 and a fifty-two week high of $19.39. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Thursday, December 20th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.57%. General Electric’s dividend payout ratio (DPR) is 45.71%.
In other news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average price of $9.73 per share, with a total value of $2,189,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the purchase, the senior vice president now directly owns 103,075 shares in the company, valued at $977,151. The disclosure for this purchase can be found here. Insiders have purchased a total of 295,000 shares of company stock worth $2,783,250 in the last ninety days. 1.12% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Greenline Partners LLC raised its holdings in shares of General Electric by 20.7% during the third quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock valued at $1,503,000 after acquiring an additional 22,584 shares during the period. Gulf International Bank UK Ltd raised its position in General Electric by 2.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock valued at $38,094,000 after buying an additional 67,257 shares during the last quarter. ST Germain D J Co. Inc. raised its position in General Electric by 2.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after buying an additional 24,812 shares during the last quarter. Pure Financial Advisors Inc. purchased a new stake in General Electric in the 2nd quarter valued at $207,000. Finally, Tributary Capital Management LLC raised its position in General Electric by 5,184.5% in the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the last quarter. 54.48% of the stock is owned by 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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