Friday, July 13, 2018

General Electric’s (GE) “Neutral” Rating Reaffirmed at Barclays

Barclays reiterated their neutral rating on shares of General Electric (NYSE:GE) in a research note released on Monday. Barclays currently has a $16.00 price target on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on the stock. Gabelli initiated coverage on shares of General Electric in a research report on Monday, May 14th. They set a buy rating and a $22.50 price target for the company. Citigroup reaffirmed a buy rating on shares of General Electric in a report on Tuesday, April 3rd. Morningstar set a $19.00 target price on shares of General Electric and gave the stock a buy rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. reaffirmed a sell rating and issued a $11.00 target price on shares of General Electric in a report on Monday, May 28th. Finally, Oppenheimer raised shares of General Electric from an underperform rating to a market perform rating in a report on Wednesday, June 27th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $17.44.

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Shares of NYSE GE opened at $13.99 on Monday. General Electric has a 1 year low of $12.61 and a 1 year high of $27.05. The stock has a market cap of $121.12 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 2.67 and a beta of 1.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The company had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. During the same period last year, the company posted $0.14 EPS. General Electric’s revenue was up 6.6% on a year-over-year basis. research analysts forecast that General Electric will post 0.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Monday, June 18th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. General Electric’s payout ratio is 45.71%.

In other news, major shareholder Electric Co General sold 3,883,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $58,245,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.12% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GE. Barrow Hanley Mewhinney & Strauss LLC grew its position in General Electric by 4,215.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock valued at $1,308,727,000 after buying an additional 52,870,164 shares during the period. The Manufacturers Life Insurance Company grew its position in General Electric by 167.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after buying an additional 39,268,675 shares during the period. The Manufacturers Life Insurance Company grew its position in General Electric by 43.9% during the first quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after buying an additional 27,527,425 shares during the period. Franklin Resources Inc. grew its position in General Electric by 11.0% during the first quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after buying an additional 20,275,020 shares during the period. Finally, BlackRock Inc. grew its position in General Electric by 1.5% during the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after buying an additional 7,675,642 shares during the period. 53.87% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for General Electric (NYSE:GE)

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