Northcoast Research initiated coverage on shares of General Electric (NYSE:GE – Free Report) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a neutral rating on the conglomerate’s stock.
Several other equities research analysts have also commented on the company. UBS Group upped their price objective on General Electric from $223.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on shares of General Electric from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Melius Research increased their target price on shares of General Electric from $194.00 to $202.00 in a research note on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their price target on General Electric from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.47.
Read Our Latest Stock Report on GE
General Electric Trading Up 0.0 %
General Electric (NYSE:GE – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to analyst estimates of $9.02 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that General Electric will post 4.24 earnings per share for the current year.
General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, December 27th. General Electric’s dividend payout ratio is currently 19.68%.
Insiders Place Their Bets
In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $178.29, for a total value of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total value of $1,267,910.00. Following the transaction, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Spartan Planning & Wealth Management acquired a new position in General Electric in the fourth quarter valued at approximately $209,000. Diversified Trust Co raised its position in General Electric by 32.1% in the fourth quarter. Diversified Trust Co now owns 27,689 shares of the conglomerate’s stock valued at $4,618,000 after purchasing an additional 6,729 shares during the period. Canandaigua National Bank & Trust Co. raised its position in General Electric by 1.0% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 14,502 shares of the conglomerate’s stock valued at $2,419,000 after purchasing an additional 146 shares during the period. Fortem Financial Group LLC lifted its stake in shares of General Electric by 2.0% in the 4th quarter. Fortem Financial Group LLC now owns 3,378 shares of the conglomerate’s stock valued at $563,000 after purchasing an additional 66 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. grew its holdings in shares of General Electric by 1.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 84,783 shares of the conglomerate’s stock worth $14,141,000 after purchasing an additional 1,201 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.
About General Electric
General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.
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