General Electric (GE) Coverage Initiated by Analysts at Credit Suisse Group
Credit Suisse Group began coverage on shares of General Electric (NYSE:GE) in a research note released on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $14.00 price target on the conglomerate’s stock.
A number of other equities research analysts have also issued reports on the company. Gordon Haskett initiated coverage on General Electric in a research report on Friday. They issued a sell rating on the stock. Citigroup cut their target price on General Electric from $21.00 to $19.00 and set a neutral rating on the stock in a research report on Tuesday. Barclays raised General Electric from an equal weight rating to an overweight rating and set a $16.00 target price on the stock in a research report on Monday, October 8th. Morningstar set a $16.10 target price on General Electric and gave the stock a buy rating in a research report on Monday, October 8th. Finally, ValuEngine raised General Electric from a strong sell rating to a sell rating in a research report on Saturday, October 6th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $16.26.
GE stock traded down $0.40 during mid-day trading on Friday, reaching $12.32. The company had a trading volume of 121,772,822 shares, compared to its average volume of 76,816,289. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51. The firm has a market capitalization of $98.03 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.14 and a beta of 0.97. General Electric has a fifty-two week low of $11.21 and a fifty-two week high of $23.84.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 3.90%. General Electric’s dividend payout ratio is presently 45.71%.
In other news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.12% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its position in General Electric by 2.5% during the second quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock worth $38,094,000 after buying an additional 67,257 shares during the last quarter. Pure Financial Advisors Inc. acquired a new position in General Electric during the second quarter worth $207,000. Tributary Capital Management LLC increased its position in General Electric by 5,184.5% during the second quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock worth $1,000,000 after buying an additional 72,065 shares during the last quarter. Filament LLC acquired a new position in General Electric during the second quarter worth $154,000. Finally, Brave Asset Management Inc. increased its position in General Electric by 57.3% during the second quarter. Brave Asset Management Inc. now owns 64,546 shares of the conglomerate’s stock worth $878,000 after buying an additional 23,500 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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