Credit Suisse Group Initiates Coverage on General Electric (GE)

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Credit Suisse Group began coverage on shares of General Electric (NYSE:GE) in a research report report published on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $14.00 price objective on the conglomerate’s stock.

A number of other equities research analysts also recently weighed in on the company. Citigroup set a $21.00 target price on General Electric and gave the stock a buy rating in a research report on Monday, October 1st. UBS Group decreased their target price on General Electric from $16.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, September 5th. JPMorgan Chase & Co. reissued a sell rating and set a $11.00 target price on shares of General Electric in a research report on Thursday, August 9th. Morningstar set a $15.70 target price on General Electric and gave the stock a buy rating in a research report on Monday, August 13th. Finally, Bank of America set a $16.00 target price on General Electric and gave the stock a hold rating in a research report on Monday, September 24th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $16.26.

GE stock traded down $0.40 during trading on Friday, reaching $12.32. 121,772,822 shares of the stock were exchanged, compared to its average volume of 76,816,289. General Electric has a twelve month low of $11.21 and a twelve month high of $23.84. The company has a market cap of $98.03 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39.

General Electric (NYSE:GE) last released its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The business had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same period last year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric will post 0.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s dividend payout ratio is 45.71%.

In other General Electric news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the business’s stock in a transaction on Tuesday, July 24th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fusion Family Wealth LLC raised its stake in shares of General Electric by 153.3% in the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 5,002 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of General Electric in the first quarter valued at approximately $116,000. Beech Hill Advisors Inc. bought a new position in shares of General Electric in the third quarter valued at approximately $119,000. Archford Capital Strategies LLC bought a new position in shares of General Electric in the first quarter valued at approximately $121,000. Finally, Amussen Hunsaker Associates LLC bought a new position in shares of General Electric in the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

General Electric Company Profile

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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Analyst Recommendations for General Electric (NYSE:GE)

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