General Electric (NYSE:GE) – Research analysts at Oppenheimer reduced their Q1 2018 earnings per share estimates for General Electric in a report released on Wednesday. Oppenheimer analyst C. Glynn now anticipates that the conglomerate will post earnings of $0.19 per share for the quarter, down from their prior forecast of $0.20. Oppenheimer has a “Underperform” rating on the stock. Oppenheimer also issued estimates for General Electric’s Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.04 EPS.
Other equities analysts also recently issued reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of General Electric in a research note on Thursday, October 12th. Argus lowered their price target on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Royal Bank of Canada restated a “buy” rating and issued a $31.00 price target on shares of General Electric in a report on Friday, September 15th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, October 23rd. Finally, Citigroup set a $28.00 price target on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.19.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.
Several hedge funds have recently bought and sold shares of GE. Triangle Securities Wealth Management raised its position in shares of General Electric by 2.2% in the 2nd quarter. Triangle Securities Wealth Management now owns 111,855 shares of the conglomerate’s stock worth $3,021,000 after buying an additional 2,395 shares during the period. Hefty Wealth Partners raised its position in shares of General Electric by 1,276.2% in the 2nd quarter. Hefty Wealth Partners now owns 24,221 shares of the conglomerate’s stock worth $654,000 after buying an additional 22,461 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of General Electric by 66.8% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 56,452 shares of the conglomerate’s stock worth $1,525,000 after buying an additional 22,599 shares during the period. First PREMIER Bank raised its position in shares of General Electric by 3.9% in the 2nd quarter. First PREMIER Bank now owns 86,507 shares of the conglomerate’s stock worth $2,337,000 after buying an additional 3,208 shares during the period. Finally, Catawba Capital Management VA raised its position in shares of General Electric by 2.4% in the 2nd quarter. Catawba Capital Management VA now owns 189,952 shares of the conglomerate’s stock worth $5,131,000 after buying an additional 4,432 shares during the period. Institutional investors and hedge funds own 55.63% of the company’s stock.
In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 55.81%.
About General Electric
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