Cowen and Company restated their hold rating on shares of General Electric Company (NYSE:GE) in a research report report published on Wednesday morning. Cowen and Company currently has a $19.00 target price on the conglomerate’s stock.
“We concede that C17-18 FCF is below normal”, but caution that the C19+ FCF.”,” Cowen and Company’s analyst wrote.
A number of other brokerages have also commented on GE. Stifel Nicolaus reaffirmed a buy rating and issued a $26.00 price target on shares of General Electric in a research note on Thursday, October 12th. Morgan Stanley reaffirmed an equal weight rating and issued a $26.00 price target (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. J P Morgan Chase & Co dropped their price target on General Electric from $19.00 to $17.00 and set an underweight rating for the company in a research note on Wednesday, November 1st. Vetr raised General Electric from a strong sell rating to a sell rating and set a $21.74 price target for the company in a research note on Tuesday, October 10th. Finally, Bank of America Corporation raised General Electric from a neutral rating to a buy rating and set a $27.00 price target for the company in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. General Electric presently has a consensus rating of Hold and an average target price of $25.55.
Shares of General Electric (GE) traded up $0.50 during mid-day trading on Wednesday, reaching $20.49. The company had a trading volume of 100,732,305 shares, compared to its average volume of 84,920,232. General Electric has a 12 month low of $19.63 and a 12 month high of $32.38. The stock has a market capitalization of $177,777.73, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same period in the previous year, the business earned $0.32 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. research analysts predict that General Electric will post 1.06 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s dividend payout ratio is presently 120.00%.
In other General Electric news, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.36% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after buying an additional 3,297,890 shares in the last quarter. BlackRock Inc. increased its holdings in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital World Investors increased its holdings in General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares in the last quarter. Capital Research Global Investors increased its holdings in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. Institutional investors own 54.38% of the company’s stock.
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