General Electric Company (NYSE:GE) shares traded 1.23% higher at $111.24 on Wall Street last session.
In accordance with the data, 20 analysts cover General Electric Company (NYSE:GE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $130.00 and a low of $90.00, we find $119.00. Given the previous closing price of $109.89, this indicates a potential upside of 8.29 percent. GE stock price is now 5.57% away from the 50-day moving average and 32.95% away from the 200-day moving average. The market capitalization of the company currently stands at $122.23B.
It has been rated a hold by 7 analysts and a buy by 12. Brokers who have rated the stock have averaged $115.13 as their price target over the next twelve months.
With the price target enhanced from $120 to $130, Jefferies maintained Buy rating for General Electric Company (NYSE: GE).
In other news, GENERAL ELECTRIC PENSION TRUST, 10% Owner bought 35,160 shares of the company’s stock on Jun 30. The stock was bought for $35,000,000 at an average price of $995.44. Upon completion of the transaction, the 10% Owner now directly owns 175,160 shares in the company, valued at $19.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22, Senior Vice President Holston Michael J sold 58,292 shares of the business’s stock. A total of $6,102,007 was realized by selling the stock at an average price of $104.68. This leaves the insider owning 70,537 shares of the company worth $7.85 million. Insiders disposed of 286,439 shares of company stock worth roughly $31.86 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GE stock. A new stake in General Electric Company shares was purchased by TCI FUND MANAGEMENT LTD during the first quarter worth $2,904,782,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $173,436,000 in shares of GE during the first quarter. In the first quarter, MERITAGE GROUP LP acquired a new stake in General Electric Company valued at approximately $145,405,000. SENATOR INVESTMENT GROUP LP acquired a new stake in GE for approximately $94,554,000. CANOE FINANCIAL LP purchased a new stake in GE valued at around $89,153,000 in the second quarter. In total, there are 1,960 active investors with 71.90% ownership of the company’s stock.
General Electric Company (NYSE: GE) opened at $110.04 on Thursday. During the past 12 months, General Electric Company has had a low of $48.29 and a high of $112.15. As of last week, the company has a debt-to-equity ratio of 0.71, a current ratio of 1.30, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $118.74B, which is based on a 16.26 price-to-earnings ratio, a 0.61 price-to-earnings-growth ratio, and a beta of 1.30. The fifty day moving average price for GE is $105.58 and a two-hundred day moving average price translates $84.00 for the stock.
The latest earnings results from General Electric Company (NYSE: GE) was released for Mar, 2023. According to the Specialty Industrial Machinery Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.14 by 0.13. This compares to $0.08 EPS in the same period last year. The net profit margin was 11.30% and return on equity was 25.50% for GE. The company reported revenue of $14.49 billion for the quarter, compared to $12.68 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.29 percent. For the current quarter, analysts expect GE to generate $15B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/25/2023. Investors who held shares on 07/11/2023 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 0.29% percent yield. There was an ex-dividend date of 07/10/2023 for this dividend. In terms of dividend payout ratio, GE is presently at 4.20%.
General Electric Company(GE) Company Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers. The company also provides various solutions for its customers through combining onshore and offshore wind, blade manufacturing, grid solutions, hydro, storage, hybrid renewables, and digital services offerings. In addition, it designs and produces commercial and military aircraft engines, integrated engine components, electric power, and mechanical aircraft systems; and provides aftermarket services. Further, it provides healthcare technologies to developed and emerging markets in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery and performance improvement solutions that are the building blocks of precision health to hospitals and medical facilities. Additionally, the company engages in the provision of various financial solutions; and management of run-off insurance operations, which provides life and health insurance and reinsurance products, as well as grid management software. General Electric Company was incorporated in 1892 and is headquartered in Boston, Massachusetts.
