Goldman Sachs Group, Inc. (The) Analysts Give General Electric Company (GE) a $23.00 Price Target

Goldman Sachs Group, Inc. (The) set a $23.00 target price on General Electric Company (NYSE:GE) in a research note published on Tuesday, October 17th. The firm currently has a hold rating on the conglomerate’s stock.

Other equities analysts have also issued research reports about the stock. Vetr lowered shares of General Electric from a strong-buy rating to a buy rating and set a $30.48 price target for the company. in a research report on Tuesday, July 4th. Citigroup Inc. reiterated a buy rating and set a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. 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 report on Tuesday, July 25th. UBS AG restated a buy rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a buy rating and issued a $31.00 price objective on shares of General Electric in a research report on Friday, September 15th. Six research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $25.84.

General Electric (NYSE:GE) traded down $0.01 on Tuesday, reaching $20.13. 49,890,423 shares of the company’s stock traded hands, compared to its average volume of 75,370,000. The firm has a market capitalization of $174,480.00, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a 1 year low of $19.63 and a 1 year high of $32.38.

General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. analysts forecast that General Electric will post 1.06 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.77%. General Electric’s dividend payout ratio (DPR) is presently 111.63%.

In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GE. First Command Financial Services Inc. raised its holdings in shares of General Electric by 0.4% during the 1st quarter. First Command Financial Services Inc. now owns 53,305 shares of the conglomerate’s stock worth $1,588,000 after acquiring an additional 229 shares in the last quarter. Tompkins Financial Corp raised its holdings in shares of General Electric by 25.2% during the 1st quarter. Tompkins Financial Corp now owns 109,304 shares of the conglomerate’s stock worth $3,474,000 after acquiring an additional 21,990 shares in the last quarter. Iowa State Bank raised its holdings in shares of General Electric by 3.0% during the 1st quarter. Iowa State Bank now owns 183,432 shares of the conglomerate’s stock worth $5,466,000 after acquiring an additional 5,392 shares in the last quarter. Torch Wealth Management LLC raised its holdings in shares of General Electric by 3.0% during the 1st quarter. Torch Wealth Management LLC now owns 110,122 shares of the conglomerate’s stock worth $3,282,000 after acquiring an additional 3,249 shares in the last quarter. Finally, Cribstone Capital Management LLC raised its holdings in shares of General Electric by 24.3% during the 1st quarter. Cribstone Capital Management LLC now owns 84,082 shares of the conglomerate’s stock worth $2,522,000 after acquiring an additional 16,435 shares in the last quarter. 54.38% of the stock is currently owned by institutional investors and hedge funds.

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