General Electric (NYSE:GE) PT Set at $11.00 by Credit Suisse Group
Credit Suisse Group set a $11.00 price objective on General Electric (NYSE:GE) in a research note published on Friday, 24/7 WallStreet reports. The firm currently has a hold rating on the conglomerate’s stock.
GE has been the subject of a number of other reports. Morgan Stanley initiated coverage on shares of General Electric in a research note on Thursday, September 5th. They issued an equal weight rating and a $10.00 price objective for the company. JPMorgan Chase & Co. reiterated a sell rating on shares of General Electric in a research note on Wednesday, July 31st. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a buy rating in a research note on Wednesday, September 4th. UBS Group lowered shares of General Electric from a buy rating to a neutral rating and reduced their price objective for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Finally, William Blair reissued a buy rating on shares of General Electric in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. General Electric currently has an average rating of Hold and a consensus target price of $11.58.
General Electric stock opened at $9.38 on Friday. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The firm has a market capitalization of $80.81 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.07 and a beta of 1.09. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $9.73.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, September 13th. General Electric’s payout ratio is 6.15%.
In related news, Director Leslie Seidman acquired 6,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $7.80 per share, with a total value of $50,700.00. Following the acquisition, the director now owns 6,500 shares of the company’s stock, valued at approximately $50,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 801,068 shares of company stock valued at $6,954,745. Insiders own 1.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GE. Nomura Asset Management Co. Ltd. raised its position in General Electric by 3.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,615,128 shares of the conglomerate’s stock worth $12,226,000 after purchasing an additional 51,578 shares during the period. Pitcairn Co. raised its position in General Electric by 15.0% in the 4th quarter. Pitcairn Co. now owns 51,018 shares of the conglomerate’s stock worth $386,000 after purchasing an additional 6,659 shares during the period. JOYN Advisors Inc. raised its position in General Electric by 15.8% in the 4th quarter. JOYN Advisors Inc. now owns 21,367 shares of the conglomerate’s stock worth $162,000 after purchasing an additional 2,914 shares during the period. Sound View Wealth Advisors LLC purchased a new position in General Electric in the 4th quarter worth $360,000. Finally, Advisory Resource Group purchased a new position in General Electric in the 4th quarter worth $151,000. 59.26% of the stock is owned by institutional investors.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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