General Electric (NYSE:GE) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of General Electric (NYSE:GEFree Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $190.00 price objective on the conglomerate’s stock.

Several other research firms have also recently issued reports on GE. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Electric from $210.00 to $190.00 and set a buy rating for the company in a report on Wednesday, April 3rd. TheStreet raised shares of General Electric from a c+ rating to a b+ rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of General Electric from $180.00 to $148.00 and set an overweight rating for the company in a report on Tuesday, April 2nd. Barclays cut their price target on shares of General Electric from $181.00 to $175.00 and set an overweight rating for the company in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group increased their target price on shares of General Electric from $180.00 to $195.00 in a report on Monday, March 11th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $156.67.

Read Our Latest Analysis on GE

General Electric Stock Performance

NYSE:GE opened at $154.66 on Tuesday. The company has a fifty day simple moving average of $157.82 and a two-hundred day simple moving average of $132.88. The company has a market cap of $169.08 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. General Electric has a 52 week low of $74.78 and a 52 week high of $158.44.

General Electric (NYSE:GEGet Free Report) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.35 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from General Electric’s previous quarterly dividend of $0.08. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. General Electric’s dividend payout ratio is currently 13.38%.

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the sale, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Several institutional investors have recently made changes to their positions in GE. Halpern Financial Inc. grew its stake in shares of General Electric by 968.4% during the 4th quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock valued at $25,000 after buying an additional 184 shares during the period. Aspect Partners LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $25,000. Criterion Capital Advisors LLC purchased a new stake in shares of General Electric during the 4th quarter valued at $27,000. Dagco Inc. acquired a new position in shares of General Electric during the 4th quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of General Electric during the 4th quarter valued at $29,000. 74.77% of the stock is owned by hedge funds and other institutional investors.

About General Electric

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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