General Electric’s (GE) Buy Rating Reaffirmed at Morningstar, Inc.

Morningstar, Inc. restated their buy rating on shares of General Electric Company (NYSE:GE) in a research note published on Tuesday.

A number of other brokerages also recently weighed in on GE. Stifel Nicolaus reissued a buy rating and issued a $26.00 price target on shares of General Electric in a report on Thursday, October 12th. Morgan Stanley reissued an equal weight rating and issued a $26.00 price target (down from $27.00) on shares of General Electric in a report on Monday, July 24th. J P Morgan Chase & Co reduced their price target on shares of General Electric from $19.00 to $17.00 and set an underweight rating for the company in a report on Wednesday, November 1st. Vetr raised shares of General Electric from a strong sell rating to a sell rating and set a $21.74 price target for the company in a report on Tuesday, October 10th. Finally, Citigroup Inc. set a $25.00 price target on shares of General Electric and gave the company a buy rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $24.84.

General Electric (GE) traded up $0.33 during midday trading on Tuesday, hitting $18.23. 126,546,332 shares of the company traded hands, compared to its average volume of 43,485,949. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The company has a market cap of $158,310.00, a P/E ratio of 15.34, a P/E/G ratio of 1.99 and a beta of 1.11. General Electric has a fifty-two week low of $17.46 and a fifty-two week high of $32.38.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. sell-side analysts anticipate that General Electric will post 1.06 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 111.63%.

In related news, Director James S. Tisch acquired 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Warren Averett Asset Management LLC increased its position in General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after acquiring an additional 6,799 shares in the last quarter. Sabal Trust CO increased its position in General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after acquiring an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE increased its position in General Electric by 47.2% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after acquiring an additional 10,025 shares in the last quarter. Rothschild Investment Corp IL increased its position in General Electric by 2.4% in the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after acquiring an additional 10,906 shares in the last quarter. Finally, Windsor Financial Group LLC increased its position in General Electric by 497.6% in the 1st quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after acquiring an additional 130,275 shares in the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.

About General Electric

Analyst Recommendations for General Electric (NYSE:GE)

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