Gordon Haskett began coverage on shares of General Electric (NYSE:GE) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued a sell rating on the conglomerate’s stock.
Other research analysts also recently issued research reports about the company. UBS Group downgraded General Electric to an add rating and set a $23.00 price objective on the stock. in a research note on Tuesday, October 2nd. Citigroup decreased their price objective on General Electric from $22.00 to $21.00 and set a buy rating on the stock in a research note on Friday, June 29th. Gabelli reaffirmed a buy rating on shares of General Electric in a research note on Wednesday, July 18th. Morningstar set a $15.70 price objective on General Electric and gave the stock a buy rating in a research note on Monday, August 13th. Finally, Deutsche Bank set a $15.00 price objective on General Electric and gave the stock a hold rating in a research note on Thursday, July 12th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. General Electric currently has a consensus rating of Hold and an average price target of $16.26.
GE stock traded down $0.40 during trading on Friday, reaching $12.32. The stock had a trading volume of 121,772,822 shares, compared to its average volume of 76,816,289. General Electric has a 52 week low of $11.21 and a 52 week high of $23.84. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81. The company has a market cap of $98.03 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 2.14 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s dividend payout ratio is currently 45.71%.
In other General Electric news, Director H Lawrence Culp, Jr. bought 191,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in General Electric by 158.6% in the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after buying an additional 126,169,069 shares in the last quarter. Franklin Resources Inc. raised its stake in General Electric by 11.0% in 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 in the last quarter. The Manufacturers Life Insurance Company raised its stake in General Electric by 43.9% in 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in General Electric by 15.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock valued at $1,005,486,000 after buying an additional 9,835,343 shares in the last quarter. Finally, Morgan Stanley raised its stake in General Electric by 26.1% in the second quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after buying an additional 11,294,608 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.
General Electric Company Profile
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.
Recommended Story: Intrinsic Value
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.