General Electric (NYSE:GE)‘s stock had its “buy” rating reaffirmed by investment analysts at Gabelli in a research note issued to investors on Wednesday. Gabelli also issued estimates for General Electric’s FY2020 earnings at $1.21 EPS, FY2021 earnings at $1.30 EPS and FY2022 earnings at $1.42 EPS.
Several other brokerages also recently commented on GE. JPMorgan Chase & Co. set a $11.00 target price on General Electric and gave the company a “sell” rating in a research note on Friday, April 27th. DZ Bank restated a “sell” rating on shares of General Electric in a research note on Tuesday, April 3rd. Goldman Sachs Group restated a “neutral” rating and issued a $14.00 target price on shares of General Electric in a research note on Tuesday, May 22nd. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, April 25th. Finally, Stifel Nicolaus reduced their target price on General Electric from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Tuesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average price target of $17.42.
Shares of General Electric opened at $13.73 on Wednesday, Marketbeat.com reports. 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 has a 1-year low of $12.61 and a 1-year high of $27.05. The stock has a market cap of $119.39 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion during the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. sell-side analysts forecast that General Electric will post 0.96 earnings per share for the current year.
In related news, major shareholder Electric Co General sold 3,883,000 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $58,245,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.12% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GE. The Manufacturers Life Insurance Company lifted its position in General Electric by 167.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after acquiring an additional 39,268,675 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in General Electric by 43.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after acquiring an additional 27,527,425 shares in the last quarter. Franklin Resources Inc. lifted its position in General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in General Electric by 19.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 64,755,611 shares of the conglomerate’s stock valued at $1,129,985,000 after acquiring an additional 10,631,247 shares in the last quarter. Finally, BlackRock Inc. lifted its position in General Electric by 1.5% in the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after acquiring an additional 7,675,642 shares in the last quarter. 53.90% of the stock is currently owned by institutional investors and hedge funds.
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: Earnings Per Share (EPS) Explained
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.