General Electric (NYSE:GE) gapped down prior to trading on Tuesday . The stock had previously closed at $15.51, but opened at $15.10. General Electric shares last traded at $14.43, with a volume of 118610420 shares trading hands.
A number of research firms have commented on GE. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 target price (down previously from $14.00) on shares of General Electric in a research report on Tuesday. UBS Group set a $16.00 target price on General Electric and gave the company a “neutral” rating in a research report on Wednesday, March 7th. Royal Bank of Canada restated a “hold” rating and issued a $16.00 target price on shares of General Electric in a research report on Tuesday, February 27th. Citigroup set a $23.00 target price on General Electric and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Cowen restated a “market perform” rating and issued a $15.00 target price (down previously from $17.00) on shares of General Electric in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.27.
The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. The firm has a market cap of $125,290.00, a price-to-earnings ratio of -48.10, a PEG ratio of 2.83 and a beta of 1.00.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.33%. General Electric’s dividend payout ratio is presently -160.00%.
In other news, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after purchasing an additional 3,297,890 shares in the last quarter. BlackRock Inc. grew its stake in General Electric by 1.5% during the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after purchasing an additional 7,675,642 shares in the last quarter. Franklin Resources Inc. grew its stake in General Electric by 64.6% during the 4th quarter. Franklin Resources Inc. now owns 184,682,929 shares of the conglomerate’s stock worth $3,222,649,000 after purchasing an additional 72,489,551 shares in the last quarter. Capital World Investors boosted its position in shares of General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Hedge funds and other institutional investors own 56.42% of the company’s stock.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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