General Electric Company (GE) Earns Hold Rating from Cowen and Company

Cowen and Company restated their hold rating on shares of General Electric Company (NYSE:GE) in a research note released on Monday. The brokerage currently has a $24.00 target price on the conglomerate’s stock.

“Street Q4 Industrial EBIT ests are below GE’s implied guide ($6.2B+), but still are too.”,” Cowen and Company’s analyst commented.

Several other research firms have also recently commented on GE. Stifel Nicolaus cut their target price on shares of General Electric from $33.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the company a sell rating in a research note on Monday, July 24th. Citigroup Inc. reiterated a buy rating and set a $31.00 target price (down previously from $34.00) on shares of General Electric in a research report on Monday, July 24th. Vetr upgraded shares of General Electric from a hold rating to a buy rating and set a $28.93 target price for the company in a research report on Wednesday, June 7th. Finally, BidaskClub cut shares of General Electric from a sell rating to a strong sell rating in a research report on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric has an average rating of Hold and a consensus price target of $30.08.

General Electric (NYSE:GE) opened at 25.71 on Monday. General Electric has a 12-month low of $25.26 and a 12-month high of $32.38. The company’s 50-day moving average is $26.44 and its 200 day moving average is $28.60. The stock has a market capitalization of $222.60 billion, a PE ratio of 31.32 and a beta of 1.21.

General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, analysts predict that General Electric will post $1.57 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is 118.52%.

In other General Electric news, insider Alexander Dimitrief bought 1,845 shares of the stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Rohr bought 27,425 shares of the stock in a transaction on Monday, July 24th. The shares were acquired at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 253,253 shares of company stock valued at $6,770,864. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GE. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter valued at about $106,000. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the first quarter valued at about $114,000. Ffcm LLC purchased a new position in General Electric during the second quarter valued at about $114,000. PHH Investments Ltd. increased its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. Finally, Heritage Way Advisors LLC purchased a new position in General Electric during the fourth quarter valued at about $205,000. 54.29% of the stock is owned by hedge funds and other institutional investors.

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Analyst Recommendations for General Electric (NYSE:GE)

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